Remember the talks of "depression" and of the worst financial crisis we would ever see in our lifetime? Whatever happened to that?
Today, Merrill Lynch opined that it might be advantageous to get bullish, since the preponderance of hedge funds were in cash, short or under-invested. Now the hedge funds call foul, as the analysts don't support their bearish thesis or their positions. What crybabies these bears have morphed into!
After sticking the investment banks with billions of losses on their credit default swaps, and of the inventory they bought back from these hedge funds, does anyone find it unusual that these houses are not playing ball with the bears, but just with the bulls?
Look at what http://www.prudentbear.com/ had to say in their commentary today:
Weak data
Fed eases, stocks rally.
Strong data
Strong economy, stocks rally.
Consensus data
Lower volatility, stocks rally.
Bank loses US$ 8 billion
Bad news all out of the way, stocks rally.
Oil price up
Good for energy producers, stocks rally.
Oil price down
Good for consumers, stocks rally.
US$ down
Good for exporters, stocks rally.
US$ up
Lower inflation, stocks rally.
Inflation up
Good for commodities and asset prices, stocks rally.
Inflation down
Fed eases, stocks rally.
Climate change
Soft commodities up, stocks rally.
World ends
Good for disaster recovery companies, stocks rally.
http://www.prudentbear.com/index.php/GuestCommentary
Welcome to the new bull market bears. Phase one is the PE expansion. That alone will take us to new highs. The next phase will be when the market will be led by easy comparisions for 2009 and the economy's ensuing recovery.
No comments:
Post a Comment