The constancy and consistency of the move higher is leading many to re-evaluate their fundamental beliefs.
Gone are the 'new normals,' the balance sheet recessionistas, and the perma-bears, and in their place are newly minted momentum 'guys.'
It is easy to rationalize the market, to find data to support a particular contention, and ultimately to justify a position. It is hard to run against the herd, to fight the forces that be, and to be handed a beat down by the market.
It speaks to something deep within us. The acknowledgment that we are wrong.
We are all momentum chasers now! (or, is it Game of Chicken players, or Musical Chairs participants).
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