Sentiment is an eye opener

		Helene Meisler
		Sentiment is an eye opener
		11/5/2009 8:11 AM EST

Now to go along with the oversold condition we have a massive move in sentiment this morning. The American Association of Individual Investors' weekly survey chimes in with ony 22% bulls and 56% bears. Last time we had such readings was right before the March low.

While I have a tendency to prefer the Investor Intelligence readings more as they do not jump around like a bunch of day traders in their bullishness and bearishness, I cannot ignore this shift in sentiment. It is eye-opening, especially since it comes when we are so oversold.