30 JUL 2009, Thursday

1. Sentiment isn't at extremes it's seen over the past 12 months. Which is supportive of some possible additional upside. Especially into the beginning days of the month, when mutual funds get all that "automatic" IRA money and then have to put it to work...after prices have conveniently been marked higher by "Da Boyz".
2. Although, the old "magazine cover" indicator is kind of interesting here. Note the asterisk and what it stands for.
3. The magazine cover indicator is kind of interesting for contrary opinion. It goes like this...when some big trend in the economy finally makes the cover of a main stream magazine, that trend is probably over or about to reverse. Afterall, economics are boring and it takes a lot to make a magazine cover as "the" story. For example: remember the guy hugging a house on the cover of Time with a headline of "Home Sweet Home"...came out right about the top of the housing market. I still remember one back in March 2002 on US News and World Report...a big bad growling grizzly bear face filled the cover just before a spirited bounce.
4. If you see a bull goring a bear on a cover...antenna up!