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Investors Turn Slightly More Bullish

In what is turning out to be one of the worst weeks for equities in a long time, individual investor sentiment actually improved modestly this week.  According to the American Association of Individual Investors (AAII), bullish sentiment increased from 28.66 to 29.22.  Even if the increase was small, it is interesting to note that after four straight weeks of declines in bullish sentiment, individual investors are now becoming more positive.  Granted, bullish sentiment is still well below the historical average (~38%) since the start of 2009, but with the increase into the market's weakness, one has to ask, is the little guy the new 'smart' money?