HSNSI: The readings from the Hulbert Stock Newsletter Sentiment Index (HSNSI), which reflects the average stock market exposure of a group of short-term market timing newsletters tracked by Hulbert Digest, stands at 40.3% as of Thursday night. That is about half of HSNSI's all-time record high of 79.7%, so that's not out of hand high. By comparison, the last time I reported on this number was in mid-August near the correction lows when this data point stood at a minus 11.3% which was a bullish sign. Mark Hulbert writes about the sentiment picture right now, and addresses the HSNSI, Investors Intelligence and the AAII surgey, concluding that an analysis of these three suggests that the market will be 2.5% higher in three months time. For those of you that are interested in tracking sentiment, this is a good article to read. Entitled, "Is glass half-full or half-empty" you can read it here:
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Excerpt by Kirk Lindstrom from "David Korn's Stock Market Commentary, Interpretation of Moneytalk (Bob Brinker Host), Financial Education, Helpful Links, Guest Editorials, and Special Alert E-Mail Service. Copyright David Korn, L.L.C. 2007"