The Maybe Bull: Who’s In And For How Much?

Investors and traders pondering the future of an equity market stuck in melt-up mode have developed an obsession with positioning. Put as a question: Who's in and for how much? Just as importantly: Who's not in and when will they get tired of missing the rally? The answer to that latter question will help determine the fate of what many still view as a "maybe bull." We know cash levels remain elevated, and not just because some money managers are skeptical of the rally. Cash isn't just viable