Hedge Funds Cut Risk, Betting Stock Bounce Is a Bear-Market Trap.

Hedge funds that make both bullish and bearish bets have largely avoided adding fresh long positions, despite a second straight monthly advance in the S&P 500 Index, data from Wall Street's major prime brokers show. (Bloomberg) -- Professional speculators are sticking to their long-held cautious stance even after the latest equity rally forced them to unwind short trades at one of the fastest paces in years. [Extracted from the article]