That's right, according to bespoke (this is as of last week, Feb 18th). For all the talk of the "great rotation" from bonds/cash into equities and the melt-up reaction to qe3+, the market hasn't even kept up with the last two years. What does this mean, if anything?
The relative positions continue to hold this week in the resulting sell-off, with investor sentiment reflecting an abrupt reversal from highs (even before the indices fell):
*Credit for both picture to Bespoke Investment Group
The previous two years' early out performance were matched only by the subsequent corrects - will history repeat itself?
(Icon source: http://learnenglishinnewyork.blogspot.com/2012/05/idioms-about-time-par…)
(1) Your sample set is ridiculously small.
(2) SPX is still up 4.44% in less than 2 months. That's pretty fucking phenomenal.
(3) The flow into equities has been more driven by cash coming off the sidelines than as a result of a rotation from bonds. Cash HAS been coming off the sidelines... is this rotation all supposed to happen in less than 2 months or can we give it some time before prognosticating?
quote=DontMakeMeShortYou Your sample set is ridiculously small.[/quote]
Anyone else remember what our fuckin' January looked like? Hard to say we've had a shitty start...
going from ~1420s to ~1500 in 30 days isn't too shabby.
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