Rallying on Disbelief
An unusual bullish clip from Tech Ticker. They typically parade out numerous skeptics of the market rally. It is precisely this kind of skepticism that makes Bernie Schaeffer, chairman of Schaeffer's Investment Research , believe the rally still has further to go. Bernie has several points that have backed our belief that the market will continue to rally. Namely, money on the sidelines still aren't moving into cash and investment experts remain negative. His main points for the market moving up from here: The Dumb Money: Through October, equity mutual funds had net outflows of $1.9 billion year to date while bond funds had inflows of about $312 billion, according to the ICI . Furthermore, there's been about $10 billion of inflows into inverse funds that short the market, Schaeffer notes. "It not even that money is not coming off the sidelines - [investors are] betting against the market." Magazine Indicators: In 1982, a Business Week cover declared "The D...