Bears were badly on the ropes at Tuesday’s close, and the rally is therefore unlikely to run out of steam until the very last of them has been bloodied to a pulp. Index futures were giving up almost no ground late Tuesday night, suggesting that even those who rig the game are having difficulty creating bargains for themselves ahead of Wednesday’s presumptive romp. For our part, we hold a tracking position in the E-Mini S&Ps — a single contract with an adjusted cost basis of 1998.00.
