That's the title of a fine Harry James song from the 1940s His band performed it best, but the musics and lyrics were written by Jules Styne and S. Cahn and the vocal was performed by Helen Forrest. That's why 1940s recordings are superior to anything that has been done since 1954. The 1940s era recordings combined the best of four difficult skills.
Anyway, the title stuck in my mind as I listened to it yesterday and I thought it applied to the stock markets and the economy. This morning it applies even more.
Babblevision has Sutty on again - he's still a bear. Beutel is still an oil bear. Another "strategist" was talking ... recession. Another was talking about divergences. A few days after the Fed rate cut and subsequent rally, I remember a hedgie calling the bounce up a "sucker's rally". Hmmm. Need I point out the S&P closed at an all-time high?
Back to basics. We need a second close in the new high territory to confirm the move as the pop Friday could have been beefer shorts covering. IF we get if, the bump and ground higher can last a long time as so many beefers are underperforming and aren't long enough. Moderate growth and low interest rates and disinflation is an extremely bullish environment for stocks.
It's a bull market. Buy dips on strong stocks & groups. Hold until something changes.