What if the market bottomed and no one realized it?

It's stunning how market psychology has changed. In the space of a few months, we've swung from "everyone is bullish" to "everyone is bearish". These results from the BoA Global Fund Manager Survey were done in early June and sentiment has likely deteriorated since then.

The good news is the market is becoming numb to bad news. What if the stock market bottomed and no one actually realized it?

The full post can be found here.