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Market Sentiment Fails to Give a Buy Signal

Market Sentiment Fails to Give a Buy Signal.

As mega cap stocks took it on the chin for a large part of September, bullish sentiment subsided a bit.

But, not enough to mark a meaningful low. Certainly not likes the ones we saw toward the end of 2018 and in March, 2020.

Market Sentiment Fails to Give a Buy Signal
Market Sentiment Fails to Give a Buy Signal

As we pointed out in the most recent Chart of the Week, short-term indicators we watch became very oversold. As a result, we expected a bounce.

We are getting that bounce now. How high can it go? It’s anyone’s guess.

However, until market sentiment swings the other way and becomes extremely bearish, the odds favor any gains from here will simply evaporate.

There’s almost surely going to be a more favorable spot to buy stocks from here.

The Active Alts SentimenTrader Long / Short strategy uses numerous indicators, including sentiment, to identify market extremes and adjust exposure accordingly for superior risk-adjusted returns. To learn more, visit www.activealts.com.

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Brad Lamensdorf

Brad Lamensdorf, the founder and portfolio manager of Active Alts, is a principal and co-manager of the AdvisorShares Ranger Equity Bear ETF. He previously managed a long-short investment partnership from 1998-2005 under the name Tarpon Capital Management. Earlier in his career Mr. Lamensdorf was an equity trader/market strategist for the Bass Brothers’ trading arm. He managed a short only portfolio in addition to co-managing a $1bil hedging program. He also served as in-house market strategist for the entire internal and external network of Bass Brothers money managers.

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