Yes it's a bear market. Yes it will continue to be a bear market until proven otherwise. Yes the economy is still in tough shape.

It's easy to get locked into a particular view. Sometimes though, it can cause paralysis when things change and we don't expect it.

Is this one of those times?

I don't know. But as we continue to rally bearish levels often rise. And when that happens it creates an opportunity to continue the rally.

We didn't...