My sentiment is bearish. The market is much higher than when I first, incorrectly as it turned out, became bearish. The defensive action taken last summer was far from extreme, and I am less defensive than I was a few months ago. Technically speaking we are closer to the next correction than we were six months ago.

This is Roger Nusbaum at SeekingAlpha: Bearish and Long.

I really gladly hear bearish thoughts. My perception is, more bloggers (in particular) are bearish. But they are forced to follow the trend. Roger speaks of his equity exposure to have risen - but we don't know how high it was. And, yes, surely it has risen - most probably due to the strong market, not new investments.

The correction - much anticipated - will come. I also suggest that we are near a short turn "relief". But "a bearish sentiment" means to me to expect a mid term market top followed by an extended bear market or pronounced weak period in stocks. And I do not see this coming: correction - yes, please, but this is not the top of this bull run.

In my humble opinion, of course.