Potential Market Negatives Part 4: A Word From the Wise

The FT’s Alphaville published an interesting article today highlighting a piece by Gluskin Sheff’s chief economist and strategist David Rosenberg that set out to answer the question; who is buying into the current rally?  I think the piece is both timely and informative, and I recommend you give it a read:  Just who is buying this rally?

In a nutshell he concluded that, “Very likely it is still a combination of program trading, short coverings and portfolio managers desperately trying to make up for last year’s epic losses.” If correct, this isn’t much of a foundation.