The bulls on the front page
of TIME normally doesn't mean good for the market. That breaths for the mass the optimism. Which is an
exit signal for me on the bull market when everybody gets started optimistic. I
like when everybody starts to fear. The good on the picture that shows the bull
is a bit drunken after a party so it is not overwhelmingly positive and optimist interpretation, I find some
sarcasm and scepticism in that. That is good. The Media is always legging behind
and represent the mass attitude, when they start being bullish I turn into
bearish and vice versa. I am happy when I see paranoia.
Here is the statistic from the 20th century what happened after a bullish cover picture
by Laszlo Birinyi. It seems this week Birinyi is very active in Media.
On technical side the European and US markets gained a lot yesterday. The
next target for Dow is at 16.650, the previous top and then we will see. But I
only see bulls around us.
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Have a
good trading day!
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