The U.S. stock market is the arena for a slugfest of two competing views. One is that the domestic economy has recovered and continues to get healthier, and the second is that economy is rolling over pulled down by a myriad of global forces. Good cases can be made for either view.
Since the beginning of this economic recovery, many investors have refused to believe in the recovery or when confronted with the obvious have sought to find reasons why it couldn’t last. As that continues, it’s harder to dismiss real economic progress and momentum.
We believe this phase is just another manifestation of the same fears and from the same investors. The preponderance of evidence is that this economy is strong and getting stronger.
Stay steady, my friends.
the Lonely Bull