Stock Market at Record Forcing Everyone to Become Believer

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From professional investors to market handicappers, it’s becoming next to impossible to stay bearish in the face of the rally in equities.

Fund managers who went to cash when the pandemic broke out have been forced back in to stocks, pushing measures of positioning toward historical highs. Wall Street forecasters, some of whom threw up their hands in surrender four months ago, are pushing up targets each day. Even Goldman Sachs Group Inc., which once warned that bad loans and falling dividends could drive a second leg of the bear market, now sees another 6% of upside in the S&P 500.

While testament to the career pressure missing a $12 trillion rally creates, the unanimity has become one of the biggest risk factors in markets right now, with positions getting crowded as everyone is forced to buy. A custom gauge of sentiment compiled by Citigroup Inc. showed “euphoria” just hit the highest level since the dot-com era.

Read more at NEWSMAX.

{Matzav.com}

4 COMMENTS

  1. Please invest on the bull and please don’t whine when bearish make money. However you may say we are the elite, because we are.

  2. If Biden wins the market tanks due to the imposed regulations and taxes which result in businesses taking a big slowdown. Finance people obviously believe that Biden will lose.

  3. THERE is no other place to put money because interest rates are so low. To own bonds you would lose money. The market is up because of the big tech stocks that does not mean strong market. Gold is 2000.00 dollars. Since covid the deficit has gone up 3 trillion Dollars, billions of dollars are unaccounted for…..The big tax cut only helped the ric of course taxes need to go up…. who do you want to pay for it, your children and grandchildren….

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