Thursday, November 15, 2012

AAII Bears At 50%: An Extreme At Market Bottom

Time stamp on this chart is November 15, 2012. AAII bears were reported at 50%, a typical extreme at market bottoms. $SPY that day closed at 135.7. That, as it turns out, was the bottom of a 2 month correction. Six weeks later, $SPY was up 5%. 

$NYMO was -92 on the low as well. 

A Fat Pitch.