Cough CLICK! Cough. Thanks.
Well, this is a market that has gone from free-falling (August, September) to unbreakable (October 2nd to the present). If there is good news, the market vaults skyward. If there is bad news, the market might be soft for a few hours, but then it will either dismiss the news or assess it through a more positive lens. The market wants to go up, and it is doing so.
The title of this post is "Beaten" not because I am in such a state – – hope springs eternal in the bearish breast! – – but because this market has made a lot of progress beating the bear out of me. That is a dangerous thing, because the market likewise did a sensational job torturing the bear out of me for the entire year through July, which resulted in capturing only a fraction of the long-awaited drop we enjoyed all-too-briefly this summer.