Dow at 9962 points, stock market timers advised their clients to allocate only 19.4% to equity, almost 80% out of market.
Many were very quick to take profit, when the market dropped by 3.3% maximum started a few weeks ago, they cut equity exposure from 42% to 19%. Interesting.
Such eagerness to get out of stocks in the face of only a modest pullback is an indication of just how strong the wall of worry is right now.(click on this link if you want to read the whole article)http://www.marketwatch.com/story/no-more-bullish-now-than-2000-points-ago-2009-10-30