Kass: The Scale Tips to the Bullish Side
"....For some time I have suggested that the economic recovery would be uneven and inconsistent. At times it will appear that the economy is headed back into recession; at other times it will appear that the economy is reaccelerating its growth rate.
I see nothing to alter this view.
As I have written, I expect the S&P 500 to trade between 1020 and 1150 (roughly between 11x and 13x 2011 S&P EPS forecasts) -- "home, home on the range" in a Roy Rogers Market.
While we can never have such precision, my forecast taken literally (at the current 1075 level) indicates that there is approximately 55 S&P points of risk and about 75 S&P points of upside. In other words, the scale has now tipped back to the bullish side...." http://www.thestreet.com/story/10842211/1/kass-the-scale-tips-to-the-bullish-side.html