The Market’s Most Powerful Contrarian Trade Just Busted Loose!

by Greg Guenthner
Daily Reckoning

Does it get any more bearish than that?

I posed this exact question during the first trading week of 2016.

Let me set the scene for you…

The market was reeling after a holiday rally failed to materialize. The major averages were falling apart. Emerging markets staggered. Stateside, some brave buyers barely prevented the major averages from suffering their worst start to a year since 1932. It was an ugly situation that was about to get a lot worse as a double-digit market correction loomed on the horizon.

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