The only thing mounting is my skepticism of this "recovery" and, as far as that goes, offensive plays like the PowerShares S&P High Beta Portfolio (NYSEArca:SPHB) may be a way to get left in the red, let alone left behind. I could see making the case for high-beta funds like SPHB back in October when volatility was peaking. Well two-thirds of the growth came from rising gasoline prices and auto sales, with the remainder of the increase coming from food and clothing.