There are powerful forces [financial media, mutual fund and RIA portfolio managers, trading desks and perhaps some others that will go nameless] arrayed against bears. I mean think about it. When was the last time you heard a CNBC/Fox/Bloomberg host ask a guest, “Give us your top short picks”. The headline on MarketWatch last night read: “March Starts with Sadness”. Need I say more?
You’ll see more of these “stick save” attempts as we proceed to whatever the ultimate outcome will be. Logic states we’re in a heap of trouble but then markets build this stuff into prices, right?
It’s only Monday and there will be plenty of economic news not to mention the unexpected for bulls/bears to chew on.
Let’s see what happens.
Have a pleasant day.
Disclaimer: Among other issues the ETF Digest maintains long or short positions in SH, MYY, IWM, RWM, TWM, PSQ, QID, RSP, DVY, IEF, UDN, FXA, GLD, GDX, USO, DBC, DBA, DBB, EWZ and ILF.