Is this a good time to bid on defensive stocks? I think so.

The long US stocks trade is getting really, really crowded. A meaningful pullback would be welcome and is increasingly likely with readings like this. BofA: ""89% of MSCI global stock indices trading above both 50-day & 200-day moving averages this week. Stocks in “overbought” territory (rule is >88% = sell signal for risk assets)

Investing with terrible luck beats doing nothing and sitting in cash.

An absolutely stunning divergence between software stocks and the S&P 500