While I believe the equity markets are generally overvalued at this time, there are always companies who are undervalued. In essence, just because most companies are overvalued doesn't mean that everything is overvalued.
Many "dip" stock buyers have been lured into buying more stocks as the bear market rallies continue, The market starts moving up and many are drawn into the "Siren of the Sea". Unfortunately and in short order, the markets fall back to even lower levels.
