The markets Refuse to be Defensive

My view is unchanged and I have tried to remain consistent.

You can go back to the January 9, 2020 post, before COVID 19 hysteria.

The Macro direction is lower, you can be defensive or you can think this is about a COVID 19 vaccine. Your choice.

New readers that found us and started following us since COVID came about are losing interest, that is to be expected.