Bankruptcy

When Everyone is Super Optimistic?.Sell

By mcbride

Here is an example of one headline/article showing how everyone is highly optimistic.  Under the Headline: ?Rosy earnings show that corporate America is back? the article says: ?The turnaround has yet to produce a dramatic increase in hiring, which isn’t expected until 2011 or later. But it provides emphatic new evidence that the economy has moved past the crisis and should continue to strengthen.  ?We’re out of the woods for good,? says Joseph LaVorgna, chief U.S. economist at Deutsche Bank. ?This is not just an arithmetic story. It’s a story of legitimate growth.??  Another indicator: according to the folks at Elliottwave, the Daily Sentiment Index reports that 86-92% are bullish on the S&P, the highest range since last Sept.. In contrast, in March of 2009, this index showed only 2% of traders were bullish. 

Here is a link to the rosy article: http://news.yahoo.com/s/ap/20100428/ap_on_bi_ge/us_corporate_comeback

Michael

Full post as published by Texas Lawyer Blog on April 28, 2010 (boomark / email).