Bullish sentiment, expectations that stocks will rise over the next six months, fell 9.6 percentage points to 30.4% in the latest AAII Sentiment Survey. The historical average is 39%.

Neutral sentiment, expectations that stocks will stay essentially flat over the next six months, rose 4.7 percentage points to 31.4%. The historical average is 31%.

Bearish sentiment, expectations that stocks will fall over the next six months, rose 4.9 percentage points to 38.2%. The historical average is 30%.

The survey’s results show a continuation of the trend we have been seeing throughout the summer: individual investors' confidence in the market is fragile. Bearish sentiment remained above its historical average for the 13th consecutive week as many investors still do not expect a rebound in stock prices over the foreseeable future.

This week's AAII Sentiment Survey results:

• Bullish: 30.4%, -9.6 percentage points
• Neutral: 31.4%, +4.7 percentage points
• Bearish: 38.2%, +4.9 percentage points

• Bullish: 39%
• Neutral: 31%
• Bearish: 30%

The survey and its results are available online at: http://www.aaii.com/sentimentsurvey

Contact:
Charles Rotblut, CFA
Vice President and AAII Journal Editor
American Association of Individual Investors
journal@aaii.com
http://www.aaii.com