The rally no one believes in

Ho-hum, another all-time high - the fifth straight record close for the Dow and the 24th gain in 27 sessions. That's the longest such streak since 1927 (perhaps not the most reassuring reference). But here's the thing: individual investors remain bearish. Most all the surveys show that the public isn't yet buying into the rally, with net inflows into equity funds continuing to lag. A survey by the American Association of Individual Investors found that 54.3 percent of its members were bearish, 28.6 percent were bullish and 17.1 percent were neutral. Jason Goepfert of Sundial Capital Research says that could be good news because it means there's a bunch of money on the sidelines. Of course, the fear is that by the time the public buys in, stocks will be ready to tank. Whatever. The Dow closed at 13312.97, 48.35.