Many bulls on Wall Street evidently do.
Every year as Thanksgiving approaches, brokers and analysts begin referring to an imminent Santa Claus Rally as a reason to be bullish. Their behavior has taken on particular urgency this year, since the remarkable post-election Trump rally appears to have gotten ahead of itself.
These brokers and analysts are just like the retailers who shamelessly roll out their Christmas decorations as early as Halloween. That’s because there is no statistical basis for believing in a Santa Claus Rally in November or December.
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