More Data On Investor Sentiment
In the past, I have posted that I like to track the bull/bear spread in the investor sentiment surveys. Birinyi Associates has a relatively new (weekly) sentiment poll that it conducts from the "top investment bloggers".
I recently went back and added this data to my spreadsheet since the inception of the poll, which was July 2006. I was expecting to see that blogger sentiment was more bearish during the summer swoon, and has become less so more recently.
In fact, I found the opposite has occurred.
- The bull/bear spread at inception in July was -2% (29% bulls, 31% bears).
- It has now moved to -19% (24% bulls, 43% bears), the most bearish reading since the poll began.
Just one more anecdotal piece of sentiment data that points to the 'wall of worry' still firmly in place.