When mainstream publications get wind of the bull market, we know for sure that it’s no longer a secret. This morning I couldn’t help myself, I had to pick up a copy of the USA Today. I mean, there’s a huge Bull slapped right on the cover with the headline, “Bull Run Gets Solid Footing”. They follow up by proclaiming that the boost from home prices and consumer confidence proves that the rally is more than a Fed-induced ‘sugar high’. And they seem pretty confident about that.
Welcome to the Bull Market, USA Today:
The infograph on the front page explains how $12.8 Trillion in stock wealth has been produced since the March 2009 low. This represents a 155% gain for the Wilshire 5000. You won’t get an argument from me as to whether or not this is classifies as a bullish sentiment cover page. When non-business related publications are making declarations such as this, it is a huge tell that the public has caught on. I felt much more confident being long this market when everyone thought the world was ending last summer.
Now, this is important: Wednesday’s USA Today cover is much different than The Economist “Wall Street is Back” Cover page from last month. That particular magazine is market and economics related. USA Today? They leave them on your hotel room doorstep when you’re staying in small towns around the country. And they’re all excited about how this bull market is now on solid footing? Shouldn’t they be talking about how Miami is tied 2-2 with Indiana? Come on.
This one got my attention, and not in a good way.