Stocks have moved into a bit of a risk-off mode lately as gloom and doom, talk of bubbles (which everyone sees this time around!), and of course, impending economic calamity appears to be the order of the day.
Believe it or not, the glass-is-half-empty crowd is once again telling anyone who will listen that a recession is right around the corner – just you wait! Never mind the fact that the Atlanta Fed’s model says the economy is currently growing at a rate of 4.1% annually. Never mind that corporate earnings have once again surprised to the upside in a big way. Never mind that the naysayers have been dead wrong for more than two years. Nope, forget the facts as it’s time to fret. And worry. And, well, you get the idea.
For those who are willing to listen to reason, the good news is that many big names – you know, the companies that are most important to the market these days – delivered another round of very strong earnings.
The bad news is that we’re seeing some strange behavior in the market here as earnings
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