Of all the ridiculous reasons I’ve heard for pushing this astonishly overpriced market into higher highs is the “Santa Claus Rally”. What’s wrong with you people? I even checked in with some of the Barron’s luminaries; here’s their take on the notion of a Santa Claus Rally:
Mario Gabelli: “Ghey.”
Marc Faber: “Totally ghey.”
Abby Joseph Cohen: “Gheyer than even me.”
So there you have it. I’m inclined to agree with my esteemed colleagues, and now that we’re actually in December, the month possessed by St. Nick himself, I’d like to point out the breakout of the MidCaps has failed spectacularly:
