Current NAAIM Survey:
For those not familiar with the survey, the National Association of Active Investment Managers (NAAIM) publishes a weekly sentiment indicator designed to measure the current market exposure of association members who based their investment strategies on active management. NAAIM has been gathering data and plotting the index since July of 2006.
Looks like most NAAIM members are still very bearish on the market. This week’s level is flat at 0.00%. For reference, last quarters average was 66.99%.
(disclaimer – I am a member of NAAIM)