The U.S. stock market has already discounted a recession/double dip.  It is time to fade the growing negative consensus and adopt a variant view by becoming more constructive on stocks.

It is always darkest before the dawn. -- Proverb

The permabulls (who generally missed the 2008-09 Bear Market Great Decession), until recently have called for a "V"-shaped domestic economic recovery and have been targeting about 1300 on the S&P 500 index as their objective. Some strategists, like JPMorgan's well-regarded Tom Lee, remain steadfast in their views and are still holding on to this target despite the ambiguity of the current soft patch that has taken most permabulls by surprise.

By contrast, the permabears (who generally missed the near 60% upside move in...