The big bad bull gets meeker and weaker
“The effects already are taking a toll on the retail investing public. According to the Conference Board, record-level optimism peaked in January in the same fashion as it did before the dot-com stock bust at the start of 2000. Now, however, there are as many survey participants expecting stocks to be lower in 12 months as there are those who expected stocks to be higher over the next year. Perhaps ironically, those who had been insisting that we had not been seeing irrational euphoria earlier this year (we had been) now insist we are witnessing irrational despair. We’re not. Fear has a long way to go before it reaches the level of anguish associated with the tech wreck, the financial collapse and/or the eurozone sovereign debt crisis.”
MK note: This article digs a little deeper than most. . . .