That headline is way too tame to be a contrarian indicator…although he is leading with the market.
(@chessNwine commentary)
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What about the CNBC: “Markets in Turmoil” Special report? Does that count?
It does…but in my opinion b/c it is a business network instead of mainstream news like Drudge I don’t give it quite as much weight.
I’m assuming you’ve seen Bespoke’s backtest of the Drudge Headline Indicator? Good stuff.
http://ibankcoin.com/news/2012/05/31/the-drudge-headline-indicator/