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Optimists Are Swarming Back

Written By: Tom Hankes  |  Posted: Tuesday, February 28th, 2012

          Author Ambrose Bierce's definition of optimism is in part as follows: "... It is held with greatest tenacity by those most accustomed to the mischance of falling into adversity…" 

          There is hardly a quote that describes better the animal spirits in the markets in early 2012 than this definitional segment from "The Devil's Dictionary".  Consider the abundant technical clues which tell us something significant is about to happen in the markets.  I suggested in a Fall article that stocks would rebound from the severe July to October sell off, and rebound they did - far higher than most people expected, aided in part by loose central bank monetary policies.

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