Econintersect: Most would not know it by watching the markets, but Ticker Senses 03 October blogger sentiment poll “improved” from 58.62% bearish from the previous week to 51.85% this week.
The Ticker Sense Blogger Sentiment Poll is a survey of the web’s most prominent investment bloggers, asking “What is your outlook on the S&P 500 for the next 30 days?”
Econintersect’s has two participants in this poll, and both are neutral. In the case of Econintersect, part of neutral position is generated because the market is being driven by external dynamics (Europe) – and the headlines, not fundamentals – are the primary driving force in the markets.
This is not to say that the markets were / are not overpriced – depending on the methods used to determine forward earnings. ECRI’s recession call added to market forward looking uncertainty.
Meanwhile, the S&P 500 opened at 1094 at levels last seen in September 2010 making the current levels the lowest in over one year.
source: Ticker Sense