Quickie Sentiment Report

I spent my morning reading through various market blog and news sites. I do this from time to time to gauge market sentiment.

I found very few posts expecting a decline in equities. The few posts that were bearish were tentatively so. None were decidedly bearish. I have found recently that many long time bears have turned bullish in the last 3 weeks and now that a decline may be setting up they are sticking to their new bullish position.

I found no posts expecting a significant rally in the dollar and several calling a top in the recent bump up.

I found no posts expecting a significant decline in gold. I found one calling for a correction to $1000.

From a contrarian point of view, the orientation of short equities, long dollar and short gold is supported by these findings.

This is of course unscientific. And there are times when the contrarian view is wrong and the trending view is right.