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Bulls Crawling Back

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Bespoke Investment Group


  • Sentiment has improved since last week, as the percentage of investors reporting as bullish rose to 30.6%.
  • Last week’s strong bearish bias subsided, as bearish sentiment pulled back from 50% to 44.03% this week.
  • Neutral sentiment was little changed.

The volatile swings in crude oil last week sent investor sentiment sharply lower, with only 24.86% of investors reporting as bullish, which was the lowest level of bullish sentiment since the COVID-19 outbreak began. With things calming down in the days since and with equities continuing to grind higher, sentiment has improved, as the percentage of investors reporting as bullish rose to 30.6%. While an improvement, that is still less than where bullish sentiment has been over the past several weeks. Since the sell-off began on 2/19, bullish sentiment has averaged 33.44%, around 3 percentage points above current levels.

Last week, we noted a strong bearish bias in which the percentage of bearish investors doubled those reporting as bullish. That has subsided this week, as bearish sentiment pulled back from 50% to 44.03%. With less than half of investors now negative, bearish sentiment is within one percentage point of its average since the 2/19 peak, 44.83%.

Most of the gains and losses to bulls and bears took from each other, as neutral sentiment went little changed. 25.37% of investors reported as neutral, which was only 0.23 percentage points more than last week's reading of 25.14%.

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Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.

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Bespoke Investment Group provides some of the most original content and intuitive thinking on the Street. Founded by Paul Hickey and Justin Walters, formerly of Birinyi Associates and creators of the acclaimed TickerSense blog, Bespoke offers multiple products that allow anyone, from institutions to the most modest investor, to gain the data and knowledge necessary to make intelligent and profitable investment decisions. Along with running their Think B.I.G. finance blog, Bespoke provides timely investment ideas through its Bespoke Premium (http://bespokepremium.com/) subscription service and also manages money (http://bespokepremium.com/mm) for high net worth individuals. Visit: Bespoke Investment Group (http://bespokeinvest.com/)

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Comments (10)

Illuminati Investments profile picture
Just in time for another decline...
The bulls' brains must be infected so they only see blue skies ahead, and ignore the TERRIBLE financial news. The FED can only do so much. QE infinity needs help from stimulus infinity, but even with that it will still probably take a long time to get 30 MILLION back to work and a lot of businesses functioning again.
TUNA9 profile picture

Mad Cow ...
Mad Bull...
Life will go on. At this point of you are looking out 5years or more dividends should be put back into the market. Bulls are patient. Bears notso much.
Time to sell
New report out of University of Minnesota (Cnn.com) is predicting coronavirus will around for 2 year, 60%-70% will get infected and second wave could be much worse, like 1918.

Pre-market is deeply red. The current bull could be over.
The dems, media and medical establishment will do everything possible to keep the country closed.
Amen! This is the plan up to election time at least, wonder why?🤔
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