Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

If Everyone Is Looking for a Correction, That's Bullish, Right?


Oftentimes, when everyone is thinking one way, it pays to go the other way.

Here's a quick chart and post that caught my eye today.

The Investors Intelligence poll just came out and the number of those polled looking for a "correction" is up to 35.4%. Why is this significant, you ask? Well, going back the past few years this has marked some pretty nice buying opportunities. Sure, it isn't perfect, but it still looks a lot better than a coin flip.

At Schaeffer's, we've noted time and time again, when everyone thinks one way, it pays to go the other way. This is yet another sign July could see a bounce. I do lean higher in July, but think bigger picture it'll take a few more months of choppy frustration before a better buy signal later this year.

Enjoy the holiday and good luck trading.

This article by Ryan Detrick, CMT was originally published on Schaeffer's Investment Research.

Below, find some more great content from Schaeffer's Investment Research:

Option Players Bet On Summer Slump for Dick's Sporting Goods Inc (DKS)

Kohl's Corporation (KSS) Remains Popular with Near-Term Bulls

Analyst Downgrades: AK Steel Holding Corporation, United States Steel Corporation, and Alcoa Inc

Twitter: @schaeffers
< Previous
  • 1
Next >
No positions in stocks mentioned.
Featured Videos