Investor Intelligence shows that the Bulls, or those who think that the stock market is going to go up, rose to 63.50–the highest lever in 30 years. The Bears, or those who think that the stock market is going to go down, fell to 14.4, which is the lowest in the last 2.5 years. The spread between them is 49.1, which is just below the all-time-high disparity of 50.5 seen in 1987. That was also 30 years ago when we saw a huge reversal called Black Monday. I’m not calling for it necessarily, but many believe that a reversal is in the future. Many I guess is 14.4% in this case. Another 22.1% have no idea. I am one of those 22%. I continue to invest in stocks, but I’m wary about sticking all those eggs in one basket.
Speaking of odds: The Dodgers are favored to win the World Series tonight. I don’t know that they will, but I am cheering for them!