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| Barron's Cover, April 22 2013 |
The unmistakeable sign of a market about to roll over. This is absolutely classic. We are talking textbook stuff - yes, I have seen this in market texts. Thank you, Barron's, for calling the turn lower.
The poll results are eye-opening as well.
Barron's Big Money Poll - Are your clients bullish? Just 62%. Versus those polled (brokers) at 74% bullish.
Barron's Big Money Poll - 86% Bullish equities next 6-12 months. 14% bearish. Versus 11% bullish fixed income. 89% bearish.
Six months ago, just 46% of managers were bullish, down from 55% in the spring 2012 poll. ==> 74% bullish now.
Barron's Big Money poll 74% bullish. Highest in 20 years of the poll.
Barron's Big Money Poll - 70% think equities best asset next 12 months. $GLD just 11%. US markets 43% vs. $EEM 27%.
For those who want some verification as to how valid this contrarian indicator is, draw your own conclusions. Below is a cover from October 2012:
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