Stocks Reverse the Reversal; Misery Ensues

Can sentiment get worse?

Funny thing about the media: they seem to be harping on negative talking points. I posted a video interview of a Goldman Sachs oil analyst this morning who clearly was constructive on the oil debt and how it didn’t pose a systemic risk, in his opinion of course, and all of the headlines since then are “Goldman Analyst Sees crude below $20.”

That’s not the headline; but it’s the one you’ll click and read most.

Yesterday’s traffic at IBankcoin was the highest in a very long time. Our traffic during the month of January was up more than 50% from December.

In my experience with the site, since 2007, whenever markets are bottoming out, web traffic is at its highest. Aside from Exodus, it is the single best indicator of a market bottom that I know.

That being said, stocks gave up a sweet upside reversal. I suppose investors are waiting for Grandmother Yellen before committing to the long side–which has been nothing but pain.

Nevertheless, I’ll be buying dips based upon Exodus oversold signals.