Daily Reading on the Financial Markets: 9/28/12
At Daily Wealth, Steve Sjuggerud suggest excessive optimism is grounds for a pullback – or at least pause – over the next 30 to 90 days.
The Pragmatic Capitalist notes that, while rumors of optimism still about, Bears actually outnumbered Bulls in this week’s AAII Sentiment Survey.
The Long Side of Short notes that spikes in year-over-year outperformance typically indicate (at least) a short term top, and we are there.
While equity markets remain near all-time highs, Chris Kimble notes that steel is near its 2002 lows. Is there a message to be had there?
Zero Hedge reports on the NSA’s ever-growing incursion on American “privacy”: