Doug Kass over at TheStreet/RealMoney has posed a kind of backdoor market Rorschach test today. By posted a faux conversion/confession on his supposed shift from bearishness to raging bullishness he got lots of attention — and now bears and bulls alike are harumphing about it.
Why? Because bears are using it to say bulls are idiots, in that they drove stocks higher on a major bear’s implausible conversion to bullishness, and that just shows how frothy things are, and so you should Sell. And bulls are saying that the market’s extreme sensitivity to a Kass’s implausible conversion from bearishness to bullishness shows how oversold things are, therefore you should buy.
Such fun. More here.