NEW YORK (TheStreet) -- A wild ride in stocks today saw more brutally painful losses for the names hit hardest recently -- yet also powerful bounces far off the day's lows.
A quick perusal of sentiment scores for some popular names leads one to ask: who's right?
Many stocks have witnessed ugly declines in recent weeks, yet bullish sentiment remains stubbornly elevated. Something's got to give. Are the remaining bulls about to capitulate and send these stocks even lower? Or have the weak hands already puked, leaving these stocks in the stewardship of the smartest and strongest (read: non-leveraged, better capitalized) remaining players?
Let's discuss some stocks in need of more definitive signals:
Facebook (FB) is 22% off highs set in early March. The stock broke to its lowest levels since the peak this morning. Yet sentiment scores in at 82% bullish, in fact higher than two weeks ago!
Twitter (TWTR) is 45% off highs set in December, and also touched new "bear market" lows this morning. Yet bulls have actually been increasing their level of bullishness in recent weeks -- weighing in today at 73%!