10/31 JPMorgan Cembalist and a Whole Lot of Bullishness in the Little Guy. Greed is Good...Until it Isn't.

Written on October 31, 2010

Happy Halloween

Buying high to get higher is a fool’s game. The masses are generally asses or about to be proved so.

The crowed has thrown caution to the wind and is bullish going into the election and QEII.

The AAII sentiment of Bullish sentiment was at 51.2% TH.

The AAII Bearish sentiment was at 21.6%.

That means that the little guy is back invested in stocks and the crowd is again hopeful.

More hopeful in fact that it has been since January of 2007. That did not work out so well.

The lower graph should read percent bullish minus percent bearish. I apologize for the error.

Blessings,

Leon