Tuesday, September 22, 2009

David Tice says "Whoops!!"

In mid April, David Tice formerly of Prudent Bear, now Federated bearish strategist, said the S&P was heading to 325. Now today, with the S&P at 1075, on a Bloomberg interview, he says this rally can run for another six months, and then it will just fall to 400 in 18 months.

His ridiculous comments, don't even need any from me.

Sept. 22 (Bloomberg) -- The biggest U.S. stocks rally since the Great Depression will end within six months because the economy isn’t improving fast enough, said David Tice, Federated Investors Inc.’s chief portfolio strategist for bear markets.

Tice said the Standard & Poor’s 500 Index will fall below 400 within 18 months, a level it hasn’t reached since 1992 and a 62 percent plunge from yesterday’s close. The investor said he has been “bloodied, but unbowed,” as the index climbed as much as 58 percent from a 12-year low in March, an advance that he called a “sucker’s rally” one month after it began.


Unknown said...

My salutations again. I used to respect David Tice on his great call about the internet hype. Now
I would like him to wake up to the new US order ie: Centralbank-Wall street-Presidency.

The POMOs will continue and the stock market will not be allowed to fall as it will trigger massive loss in bonds of state/local govt and finally even UST. What is he smoking?

Today, I can celebrate. My oct 100 calls of UPRO have yeilded significant beer money. Would have liked some cheerleaders along for sake of completeness though. Got out of jan 45 calls on AIG ( maybe too early, but my stomach could not take it)


Palmoni said...


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