Brad Lamensdorf, strategist at the Lamensdorf Market-Timing Report and manager of the Ranger Equity Bear ETF, says there's "a lot of stock in a lot of weak hands," which tends to lead to a serious correction, and he says the market is due for a 15 to 25 percent pullback. Further, he notes that bear market corrections tend to "be more significant" in a high-rate market like the one being faced today; Lamensdorf notes that while the market is near record highs and has gone up sharply this year, so too has his bear-market fund, highlighting just how thin the bullish sentiment and market breadth are. Lamensdorf says that investing in the Magnificent Seven stocks has been great stock picking in a market that has not favored stock pickers, highlighting that this "is a great long-short stock-picking environment right now." Dave Lamb, head of closed-end funds at Nuveen, says there is a "much more aggressive form of activism today than what we saw years ago," driven mostly by discount-arbitrage opportunities rather than any evaluation of a fund's management. He discusses what fund sponsors, including Nuveen, are doing to make closed-end funds more attractive to the public, but less appealing to activist shareholders. Plus Daniel Dusina, chief investment officer at Blue Chip Partners in Michigan, discusses "underappreciated quality stocks" in the Market Call.