Active traders are optimistic about the stock market, so much so that they plan on investing their tax refunds in the market.
On Tuesday, Charles Schwab today released its latest Active Trader Sentiment Survey, which polled 653 individual traders and investors between March and April 2011, who trade at least 36 times per year, and found that 72% of those who are expecting a tax refund this year plan on investing at least some of it. Twenty-eight percent say they will put the entire refund into their investment portfolios.Meanwhile, overall optimism about market conditions is the highest since the end of 2009. Forty-seven percent said they are currently bullish, compared to 38% last November and just 28% in April 2010. Seventy-seven percent responded that they believe market volatility is a friend as opposed to a foe, up from 71% in November 2010.