Another data point that Advisors should be having downside risk conversations with their clients. **JB**
- The spread between bulls and bears hasn't been this high since early 1987, shortly before the Black Monday market crash, according to the latest Investors Intelligence reading.
- Bulls in this week's survey totaled 63.5 percent against just 14.4 percent for bears. A spread above 30 points signals "elevated risk" while 40 points calls for "defensive measures."
The roaring stock market has professional investors riding high, so much so that it's rekindling memories of the 1987 crash.