The latest Investor's Intelligence survey shows that the Bull Ratio among newsletter writers is above 80% for the first time since early 2018. After the ends of other long streaks with "not euphoria," stocks continued to rise over the next 2-4 weeks.; In November, almost everything rallied. Indexes covering stocks, bonds, commodities, and real estate all showed at least 1% gains. That kind of investor nirvana can make contrarians nervous, but in general it was more of a good sign than bad.

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