Tags: Hulbert | Next | Few | Days | Crucial | Bull | Case

Hulbert: ‘Next Few Days Crucial’ for Bull Case

Wednesday, 16 Feb 2011 08:35 AM

The current bull market — rapidly approaching its second anniversary and piling on to a 90 percent climb from the bottom — could fall apart at any moment, warns newsletter guru Mark Hulbert.

Hulbert has followed the performance of 160 newsletters since 1980s. His own Hulbert Nasdaq Newsletter Sentiment Index (HNNSI), a measure of sentiment among investors in the tech-heavy Nasdaq exchange, is “perilously close to dangerously high levels,” Hulbert warns in his MarketWatch column.

“The HNNSI is currently 73.3 percent, up from 46.7 percent as recently as the first week of February. The last time the index was any higher for an extended period was late last April and early May, which came just prior to the infamous Flash Crash and the ensuing May-June market correction,” Hulbert writes.

A correction would be a reasonable turn of events and not very surprising, unless of course the aging bull shakes off its critics and set the stage for another leg up. “The next few days will be crucial from a contrarian point of view,” Hulbert says.

Meanwhile, the most watched contrarian of modern times has been selling.

104793495.jpg
Warren Buffett
The latest filing from Warren Buffett’s Berkshire Hathaway has the company unloading $1.3 billion worth of positions in major global names, including Bank of America, Nestle, Comcast, Becton Dickinson, and Nike, among others.

Berkshire also sold part of its holdings in Bank of New York Mellon and Moody’s, while increasing a stake in Wells Fargo.

Speculation abounds that the sales are part of a drive to end investments taken out by retired GEICO portfolio manager Lou Simpson and to finance new buys by incoming Berkshire manager Todd Combs.

Berkshire’s portfolio is now worth $52.6 billion.


© 2017 Newsmax Finance. All rights reserved.

1Like our page
2Share
StreetTalk
The current bull market rapidly approaching its second anniversary and piling on to a 90 percent climb from the bottom could fall apart at any moment, warns newsletter guru Mark Hulbert. Hulbert has followed the performance of 160 newsletters since 1980s. His own...
Hulbert,Next,Few,Days,Crucial,Bull,Case,warren,buffett
281
2011-35-16
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved