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I briefly mentioned LowRisk as one of the sentiment measures that I watch. Just today I see that their sentiment outlook has flipped from very bearish to bullish:
45% bullish, 20% (previous week)
28% bearish, 46% (previous week)
28% neutral, 33% (previous week)
(percentages may not sum to 100 due to rounding)
Since we look at sentiment from a contrarian point of view, this quick about face does not bode well for a bullish posture going ahead. However, we must remember that LowRisk is a peculiar little sentiment measure. Eventhough, theoretically, the outlook is for the next 30 days, LowRisk’s sentiment picture tends to be as skittish as a chihuahua after 4 espressos. So make of it what you will.
No chihuahua was harmed in the process of making this blog entry.
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