The Last Two Times This Happened, Things Didn't End Well
With the almost extinction of 'bears' we noted last week, the bull-bear index has now crossed the Rubicon into a euphoria mode that marked the turning point before the last 2 major corrections in the US equity market. Of course, we are sure, this time is different; but hasn't the Fed 'always' had our back? Perhaps, as GenRe's CIO notes, "gravity will win," after all?
Shrugging that off... this has happened 15 times in the last 24 years with stocks falling 79% of the time in the following 3 months...
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