Bears Bearing Bear Cases

Playing catch-up to an equity market that's running away from you can end poorly. With that in mind, spare a thought for top-down strategists who maintained a bearish view during a stellar first half for stocks. Their position isn't enviable. If they stick with fundamentals-based calls for stocks to sell off and the downdraft never materializes, they'll be even further behind the curve and derided as hopelessly obstinate. If they turn bullish, the peanut gallery will immediately call it a con