Even as overall market complacency has moved higher the hand-wringing among professional investors grows. Goldman Sach’s (GS) David Kostin nicely captured the prevailing mood last week when he made a bullish call for 2014 but only with a the caveat of a very specific-sounding 67% chance the S&P 500 (^GSPC) will sell off 10% or more in 2014.
In the attached clip Mark Luschini of Janney all but defies those who would offer a divergent view given the facts at hand. “We’ve gone more than two years without so much as a 10% correction which is a fairly rare phenomenon,” Luschini argues. Stocks are up 30% year-to-date with barely a hiccup along the way.
The market moving higher isn’t a sell thesis. If it were Read More »from The Bull Market Doesn't Care That You Think it "Should" Correct