Bears

As investors test the floor and await the Fed’ offering its latest policy outlook, a piece in Barrons' offered bad news for those positioned for a rally.

From Steven M. Sears:

... Despite last week's nascent bullishness among the options of many top financial stocks, it seems as if someone turned a switch, or sent out a group e-mail to hordes of sophisticated investors, telling them to quickly establish positions that will increase in value in anticipation that financial-stock prices will decline.

The change in sentiment is particularly jarring as it occurs ahead of this week's meeting of the Federal Reserve's Federal Open Market Committee, which controls interest rates. The meeting concludes Wednesday, offering one of the week's major trading events. ...