Peak Kool Aid? “Bulls” Surge To Highest Since 2004

The latest Investors Intelligence survey reports 62.7% of ‘intelligent investors’ are bullish the stock market – the highest level since 2004.

h/t @Not_Jim_Cramer

Furthermore, it appears they are putting their money where their mouth is as net speculative positioning is at (or near) record extremes in VIX (short), Stocks (long) and Bonds (short).  

What could possibly go wrong?

This post originally appeared on Zero Hedge

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