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It’s just not a bubble yet. The Market Ear has more.
Where is the froth? Where is the exuberance?
We continue to be puzzled and amazed by the lack of froth and exuberance in terms of sentiment and positioning. The trading implication of this is of course that any short market position needs to be tactical and with very tight stops. Here are the latest observations.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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