No sooner had we finished reading a breathless note from our friend Chuck Cohen — “Major, MAJOR bottom here” — than we received an e-mail from Jonathan Auerbach at Auerbach & Grayson saying more or less the same thing. Each notes that bullish sentiment as recorded by AAII, a contrary indicator, is about as low as it gets. While I greatly respect both of these guys, and although I think stocks are going higher over the near term, I remain skeptical that we are witnessing the start of a major bear rally. To access the A&G report — a fascinating read, as always – click here. I will post Chuck’s essay as commentary over the weekend.
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