In "Reversal Time?" I pointed to several sentiment indicators that suggest investors are way too complacent about the risks ahead. A post at Walter Kurtz's Sober Look (a site worth visiting, I might add), "Risk Aversion the Lowest in Over Two Years," highlights other measures that indicate investors have set themselves up for a nasty surprise, including the Fisher-Gartman Risk-On Index, which is trading at its highest level since the index was launched.

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