Bears Are Going Extinct in Stock Market’s $13 Trillion Rebound
- Short sales drop to a 16-year low as covering help fuel gains
- One source of equity demand is depleted with S&P 500 at record
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Skeptics are a dying breed in American equities. It’s another illustration of how risky it has become to doubt the resilience of the market’s $13 trillion surge since late March.
Going by the short positions of hedge funds, resistance to rising prices is the lowest in 16 years. Bears pulled out as buying surged among professional investors who were forced back into stocks despite a recession, stagnating profits and the prospect of a messy presidential election.