From Acting Man's latest. He might as well be saying "buy Tyhee now":

http://www.acting-man.com/?p=19726

"It is always amazing to observe how people become less risk averse after risk has markedly increased and more risk averse after it has markedly decreased.

The stock market is held to be 'safe' after it has risen for many weeks or months, while it is considered 'risky' after it has declined. The bigger the rally, the safer the waters are deemed to be, and the opposite holds for declines. At the March 2009 low, the daily stock market sentiment index (DSI, a daily sentiment measure of futures traders) had declined to an all time low of 3%. In other words, 97% of traders were bearish at the lowest risk buy point of the past 15 years.

One term that is associated in peoples' minds with rising prices is 'certainty'. For some reason, rising prices are held to indicate a more 'certain' future, which one can look forward to with more 'confidence'. 'Uncertainty' by contrast is associated with downside volatility in stocks. In reality, the future is always uncertain. Most people seem to regard accidental participation in a bull market cycle with as a kind of guarantee of a bright future, when all that really happened is that they got temporarily lucky."