For those that don’t know, back in late September I vowed not to shave until the S&P 500 saw it’s first 10% correction in years.
The 10% beard is 9 months old pic.twitter.com/hcdrXquz9l
— Jesse Felder (@jessefelder) June 24, 2015
Since then I’ve been tracking “the beard indicator.” During this tight trading range over the past few months sentiment has been swinging from bullish to bearish in a matter of minutes it seems. One day, I get loads of folks telling me I’m never shaving again. The next they tell me to get my razor ready.
Last Monday, stocks gapped up and folks were rather bullish:
— Brian Lund (@bclund) June 22, 2015
.@jessefelder puts his razor back in the drawer as the S&P nears a new high. Meanwhile, his beard becomes is now on the NSA's radar.
— Andrew Thrasher, CMT (@AndrewThrasher) June 22, 2015
— Gubb (@gubbmintcheese) June 22, 2015
Today they gap down and they’re not feeling so bullish anymore:
.@jessefelder's beard must be tingling…
— Pierce G. Crosby (@CrosbyVenture) June 29, 2015
— Tetteren (@Tetteren) June 28, 2015
Is there any better contrary signal out there right now? I think I may have to figure out how to quantify this thing. I could probably build an ETF around it and make a fortune right now.