Have the Institutions Been Suckered Into the Market?

Has the trap been set?

Vincent Fernando reports on this interesting anecdotal note on what Tobias Levkovich is coming up against when meeting institutional types:

Citi: "We are consistently surprised by the pushback we get when we discuss unpopular topics and while our meetings with investors have remained friendly, we find investors less and less receptive to our concern about a correction."

If institutions have this kind of attitude, it means they are all in. The downturn is either here, or not far away.