Some valuable insight from Jim Bianco of Bianco Research in response to bullish taunts that the stock rally over the past couple of months has been widely hated and missed by most investors.
“We completely disagree with this article [asserting the recent stock rally has been shunned by investors]. The objective measures shown below like the Investor Intelligence survey (first chart below), the VIX (second chart below) and the Commitment of Traders report (third chart) show nothing even close to what the article contends. If anything, this rally is getting overbought because of too much optimism.”
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