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The Market Ear on retreating sentiment.
There is almost always another buyer
The greatest trick the seductive and mischievous Miss Market ever played was to fool us into believing that sentiment & positioning were max stretched. Tracking and trading these indicators have been a proper widow-maker in the last few weeks. And just to complicate things further, now after another all-time-high week, some of these indicators are now retreating from their extreme levels.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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