From Bespoke Investment Group:

My friends at Bespoke Investment Group have noticed the same thing that I have -- everyone is rushing out to dismiss the market's upside action this week as a short-covering rally. Bespoke did the research and discovered that it probably isn't -- because there is a randomness to what's rallying and no evidence that highly-shorted stocks are seeing the biggest gains.

Because I'll tell you what's really going on -- this ain't no short-covering rally. Rather, it's worse -- this is the most desperate week of window dressing I've seen in years.

I'll explain...

For the uninitiated, window dressing is the phenomenon where mutual fund managers and other institutions that report quarterly performance results will buy more shares in their biggest holdings headed into the end of a month, quarter or year. Usually...

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