October 28, 2005
Market Sentiment Remarkably Complacent - Stand Aside
When the VIX spikes up as it has the last few weeks, I normally get excited about putting some money to work. But I like to see my proprietary sentiment index confirm the VIX, and this month it remains remarkably low (I like to see it get above 2.0). I’m not putting a dime into this market yet. Folks appear to be in la-la land (read the “Big Money Poll” in last week’s Barron’s to get a good grasp of the level of contented self-satisfaction), and I suggest you stand aside until the sentiment gets truly bearish — be patient, keep building up your cash.
Cat: | Time: 12:00 pm (utc+8)