This old world is rough, it's just getting rougher
--Bruce Springsteen
Contrarians are likely raising eyebrows at this week's Barron's cover.
The 'cover indicator' theory states that by the time social trends reach the covers of magazines, these trends are usually nearing their end. Historically covers like the one above have interesting records as harbingers of trend reversals.
Fade trade pending?
position in SPX
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Over the past five years, investors in ordinary domestic mutual funds have withdrawn $490 billion from the U.S. stock market. And there have been only a few brief periods during which they were buying: the spring of 2008, just before the market collapsed; the spring of 2009, after the stock market had already rallied; and the start of 2011, shortly before the market slumped again.
~ SmartMoney columnist Brett Arends
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