Recent statistics reveal Wall Street analysts are more bearish than ever. From Bloomberg.com:
“Short” interest rose to 3.1% of shares listed on the New York Stock Exchange in May -- higher than any level since the Great Depression.
“Sells” in the total market have increased to 6.9%, compared with 1.9% in March 2000, moments before the tech wreck.
“Buy” recommendations fell below “hold” calls as a percentage of total U.S. stock picks for the first time since Bloomberg began tracking in 1997.
A bull market climbs a wall of worry, the old-timers say. Perhaps there is still room for new record closes on the Dow and S&P after all.
“Short” interest rose to 3.1% of shares listed on the New York Stock Exchange in May -- higher than any level since the Great Depression.
“Sells” in the total market have increased to 6.9%, compared with 1.9% in March 2000, moments before the tech wreck.
“Buy” recommendations fell below “hold” calls as a percentage of total U.S. stock picks for the first time since Bloomberg began tracking in 1997.
A bull market climbs a wall of worry, the old-timers say. Perhaps there is still room for new record closes on the Dow and S&P after all.
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