Here is the latest cover of The New Yorker magazine. It depicts Humpty Dumpty about to take a great fall from the roof of the New York Stock Exchange.The New Yorker rarely has covers dealing with economic affairs so I regard this one as particularly significant. It reinforces the case I last made in the post you can find here that public and media sentiment is as bearish as it was at the 1990 low and at the 2002 low. I think this market is headed much higher.
3 comments:
Carl,
i see you've been using magazine covers many times in the last few months as a contrarian indicator.
I suspect that market sentiment is growing increasingly hard to guess as it now changes very quickly, and im sure magazines are happy to play this game with readers.
I wouldnt count on this indicator so much anymore.
I agree with gibaryan. and also you have no clue how to read the cover. I t says anothernail in the bear market coffin meaning the bear market is dead and his smile is an up arroe how can you take this as bearish???? you all make me laugh you have no clue that article is bullish as they come so if you are contrarian then you would see this as a bear market rally that will end very soon.
Carl, Has there ever been a time when sentiment has been negative and the market has continued to fall?
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