Every time the market bends but doesn’t break, bears pop up to remind everyone it’s just a matter of time before this thing finally falls apart. We saw it again on Friday, as multiweek winning streaks came to an end on major indexes — yet no real panic ensued. But could this be the rare dip that doesn’t find a buyer? That’s the question investors are chewing on as we push into mid-November. In our call of the day, Eric Peters, chief investment officer of One River Asset Management, says “people are no longer investing, they’re speculating” — duh — and he is convinced history is about to repeat itself. That spells all sorts of trouble for those unprepared. “We are investing as if 1987 will happen tomorrow, because it will,” Peters writes in a note to clients published on Zero Hedge. He’s referring, of course, to the year “Dirty Dancing” hit theaters, ”Walk Like an Egyptian” topped the charts and, oh yeah, stocks dropped 22% in a single day. Even in the precarious market position we currently find ourselves in, Peters reminds us of the fund-manager dilemma: “We need to be long, or we’ll be out of business,” he says. “So we construct option trades that are binary bets.”via