Why no dip?
There is a competition for dip alpha, and, as Goldman Sachs flow of funds guru, Scott Rubner notes in a brief note to clients, civilian investors have been pushing around institutional investors given the rally and inability to break lower in equity spot prices.
My inbox has been super bearish over each of the past two weekends waiting for equity futures to open on Sunday night.
I am a few weeks away from sending out a tactical bearish note, but my gut says that positioning is starting to get fuller.
