Monday, April 25, 2011
Here are images of the front page from The New York Times for this past Friday, Saturday, and Sunday. Friday's headline included the phrases "...Darkening Mood..." and "...Pessimism On Economy...". Saturday's headline informed us that "Bad Times Linger...". On Sunday at the top left of page 1 was a story headlined "Stimulus By Fed Is Disappointing..."
I think the New York Times is accurately reflecting (and reinforcing) the public mood at the present time. This is good evidence that no bullish investment crowd of any consequence has built up in the US stock market. Until the public gloom lifts substantially stock prices will only go higher.