Wednesday, April 1, 2009

The bears re-assess

Yesterday, Meredith Whitney said that shorting the banks before earnings wasn't the best trade, as shorts could re-enter at higher prices.

Is she re-assessing her bearish viewpoint?

David Rosenberg of Merrill Lynch, now sees things from a bullish prism also, howbeit only from an April Fool's viewpoint. We'll see. His April Fool's lark, will prove to be prescient, and his joke will backfire.

Nourel Roubini, who yesterday, said the chance of a depression was taken off of the table, and then said we could have a U-shaped recession, backtracked today, and then said that this recession will stay L shaped.

Back at the market bottom, at 666 in the S&P, Roubini said there was a 66.66% chance that the recession would be a severe U shaped versus the cataclysmic L shaped.

Now he's changing his viewpoints daily!

So far these bears have missed a good 20-25% rally, and 50-100% moves in many stocks.

The April Fool's joke is on them!

No comments: