Barron's had an article titled Why the Rally Should Keep Rolling..For Now
Since July 10:
HERE'S A SNAPSHOT OF JULY'S ROMP, courtesy of Bespoke Investment Group: From their July 10 low, the 50 smallest stocks in the S&P 500 had rebounded 17.2% through Thursday, outgunning the 50 biggest stocks' 9.7% gain. The 50 most heavily shorted stocks have jumped 17.6%, versus just 8.8% for the 50 least-shorted names. Companies raking in foreign revenues outran domestic earners, a sign that traders are still uneasy about the dollar.
In Barron's Friday, noted shortseller and bookseller, Barry Rihltolz was quoted as saying:
"In this environment, capital preservation is paramount," Ritholtz concludes.
Up 17% in a couple weeks? How about capital restoration?
Maybe capital preservation is key for those short, but capital restoration is key for those long!
And the market is providing it, despite what the booksellers will tell you!