“Like a card shark figuring out the right way to play a tough hand, the stock market bear is waiting for his bullish opponents to go all in before making a move,” says Jeff Cox, staff writer for CNBC.
With prices on a seemingly inexorable march higher, there seems little else for those betting against Wall Street to do but to wait until the rally has played itself out.
“There’s always significant downside risk,” says Keith Springer, president of Springer Investment Advisory in Sacramento, Calif. “The risk will come when there’s over-optimism, essentially.”
“There’s a lot of catching up to do. All that money that flew into bond funds the last two, three years, that’s not long-term investment money, that’s just lazy investors afraid to go into stocks,” Springer says. “There’s going to be a catch-up rally, and that’s going to be the top.”
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