Stampeding bears undeterred by declining EPS horizons.
With worsening FY18 earnings forecasts (RHS) and the S&P/ASX200 around 5,700, you'd think a bit of moderation might be on the cards?
Nope, not today - and it's not because everyone's a bull. It's just as much about bears continuing to run with bulls to keep warm. The alternative is an uninspiring, icy cold cash rate cave (LHS).