Yesterday, Bill Gross wrote a widely panned piece on how after decades, it was now going to be lights-out for the stock market.

And today we get word from BofA that sell-side strategists haven't been this bearish in 27 years.

You pretty much have no choice but to be thinking of BusinessWeek's famous 'Death of Equities' cover, which was published on August 13, 1979, right before a mult-decade generational bull market.