investor pain index and bearish sentiment
DESCRIPTION
JSCO investor pain index above average but significantly lower than Oct-Nov 08. VIX pain showed for compairsonTRANSCRIPT
τµ
0%
50%
100%
150%
200%
250%Se
p-08
Oct
-08
Nov
-08
Dec
-08
Jan-
09
Feb-
09
Mar
-09
Inve
stor
Pai
n In
dex
6,000
7,000
8,000
9,000
10,000
11,000
Dow
Jon
es In
dust
rial A
vera
ge
t Investor Pain Index µ VIX pain Dow
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
Dec-01 Dec-02 Dec-03 Dec-04 Dec-05 Dec-06 Dec-07 Dec-08
Bea
rish
Sent
imen
t
-60%
-40%
-20%
0%
20%
40%
60%
80%
100%
S&P
24 m
o. fw
s pe
rfor
man
ce
AAII Bearish Sentiment Bearish Sentiment + 2 StdDevCurrent Bearish level in perspective S&P performance 24 mos. fwd100 per. Mov. Avg. (AAII Bearish Sentiment)
Maximum bearish sentiment in 21 years
In 2002, 2004, and 2005, bearish sentiment was nearly as high as it was in March 2009; 24 months later (as indicated by the black dots), share prices rose