Contrarian analysis remains bullish http://finance-week.org/?p=596... And yet the editor of the average market timing investment newsletter is not nearly as optimistic today as then. That, in a nutshell, is why contrarians expect the stock market to continue to have an upside bias. Consider the latest reading of the Hulbert Stock Newsletter Sentiment Index (HSNSI), which reflects the average recommended stock market exposure among a subset of short-term market timing newsletters tracked by the Hulbert Financial Digest. As of Tuesday night, the HSNSI stood at just 17.4%. That represents just a 3 percentage point increase for the day, which is surprisingly modest, given the 336-point rally in the Dow Jones Industrial Average
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