The Best Trends Are the Ones Nobody Believes In

You don’t short a market climbing a wall of disbelief.

This is not a weak market.

Hedge funds and institutions are still short or neutral during this uptrend.

Positioning says it, credit confirms it, retail is underweight, and that’s fuel for this rally.

Everyone wants to bet against it. That’s exactly why it keeps grinding higher.

Liquidity is rising.

The money supply bottomed and reversed in 2023. Credit growth never stopped.

You don’t short a market like this. You ride it.

This is the kind of trend I love—one that everyone hates. The louder the disbelief, the stronger the move.