The American Association of Individual Investors released their weekly poll today. I’ve been very concerned that bullishness was getting too high as the last two readings were 50% & 51%. Anything over 50% makes me very nervous. The selloff Monday obviously had an immediate impact - bulls dropped to 34% and bears rose to 40%. Investors have been very reluctant to embrace this rally and the quick drop in sentiment shows they the late converts don’t have much conviction. As a committed contrarian, I have to see this as good news.