Pessimism sells newspapers better than optimism. Pessimism also creates buying opportunities for optimists. Investors are no longer as bearish as they were eight weeks ago. From a contrarian perspective, as we’ve seen just recently, extreme pessimism tends to be bullish, unless the world really does come to an end, in which case, who cares? Here’s a quick update on Investors Intelligence Bull/Bear Ratio (BBR):
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