Investor Optimism Rises to Highest Level of 2009
PRINCETON, NJ -- Consistent with Gallup's Consumer Confidence measure and the continued strong performance of the equity market, the Gallup Index of Investor Optimism -- a broad measure of investor perceptions -- in August hit a new 2009 high of 9. This represents a 12-point increase from July and is the first time the Index has been positive since June 2008. The Index has improved by 73 points from February's -64 reading -- its lowest level since its inception in October 1996. Originally posted at Carpe Diem.
4 Comments:
That optimism will likely carry through this week, but won't after what's scheduled to happen in the market after Labor Day....
The good news is that it will take about a couple of weeks for things to play out before they straighten up. The month as a whole will come pretty close to averaging out to be flat overall, as compared to August 2009.
Well I have to wonder if the Gallup folks or these supposed investors that were alledgedly polled have a real grip on reality...
From Anthony Watt's Watts Up With That: Slump shows up in USA CO2 output for 2008 and 2009 – economy driven?
(graph included)
Note that in 2008 a significant drop was seen in total CO2 produced. Corresponding to the drop is a drop in CO2 produced by petroleum, which seems to indicate that high gasoline prices last year which contributed to less miles driven, may have been the dominant factor.
The Department of Transportation notes in U.S. Traffic Volume Trends:
Cumulative Travel for 2008 changed by -3.6% (-107.9 billion vehicle miles). The Cumulative estimate for the year is 2,921.9 billion vehicle miles of travel.
Gas prices receded though in late 2008 and into 2009. But our economy continued it’s slide with layoffs, store closings, and less demand for durable goods during that same period.
Maybe, just maybe Anthony Watts has something here...
And here's the reasoning behind that prediction for the stock market in September. Yes, real money is being bet....
Gum flapping about hope, recovery and optimism won't stop the bloodbath coming in the next four months.
By New Year's Eve, this will become yet another forgotten index.
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