Stupid or Insane
Legions of the faithful climbed on the rally today as the Index closed the day’s session with thin resistance. The official Catalog of Rallies, which does not really exist but neither does a reason to own the S&P500, would classify today as true believers running up the mountain. Now this is a climb of ridiculous difficulty since it can only be performed by emptying your mind of all rational thought and wearing pants which on their seat reads “follow me.”