AAII sentiment and NAAIM sentiment released today have shown a significant decline in bullishness. AAII is at a ratio of 1.25 bears vs bulls and NAAIM long exposure is down to 51%. Ultimately, I expect bullish sentiment to unwind further as has been case near a major low when you typically see 2:1 ratio of bears vs bulls and < 35% long exposure, but these things often don't occur in a straight line and there's definitely enough unwinding at the moment to warrant a multi-week bounce. Try to play these bounces if you dare....
I'm still having a hard time finding any table pounding long side candidates aside from GRE.
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