What struck me in my conversation with Bob /Pisani/ was a paradox that has been bothering me. He indicated that while many of the traders he talked to were bearish, most of them had long positions because that’s the direction the market was going.
Peter Navarro, Ph.D.
Isn't this the very definition of a bubble -- when everyone knows the market is grossly overbought, should be going the opposite direction, but keep buying anyway?
