At current market levels, I am bearish. That doesn't mean I'm always bearish, but the relative upside in the equities markets is much less appetizing than potential pain of the downside risk. Given how dynamic the market is, that can change.
Have you ever heard about a concert where there is some disastrous event and everyone was trying to get out via limited exit space? People get hurt and trampled. Before the disaster, everyone is complacent until the moment of disaster and then it is a mad dash.
