At The Bullish Extreme: Take The “Blue Pill” At Your Peril

The most recent development strikes us as actually as especially meaningful. Bullish positioning has taken off like a rocket in the last quarter from an already high level (bull and sector assets rose by nearly 40%), while battered bear assets have plunged nearly by another 40% in just the final ten weeks of the year. The last quarter is especially noteworthy, as a massive surge in the bull-bear ratio........