It was indeed a trap for the bears!
TJ Shortie Out (when is he in?)
Weekly Poll: Bounce Soon?
- Thread starter shortie
- Start date
It was indeed a trap for the bears!
TJ Shortie Out (when is he in?)
...
Sho dat's wut id izz...
Birinyi Cuts 2010 Forecast, Says Bull Market Intact
By Whitney Kisling - Aug 25, 2010 2:54 PM PT
Birinyi Associates Inc. lowered its year-end forecast for the Standard & Poorâs 500 Index by 7.5 percent to 1,225, saying it sees little prospect for gains in companies from Wal-Mart Stores Inc. to Procter & Gamble Co.
The estimate implies a 16 percent advance from todayâs closing price and a full-year increase of 9.9 percent. Thereâs a 20 percent chance the benchmark gauge for U.S. stocks will trade in a range of 1,000 to 1,150, buoyed by corporate buybacks and mergers while dragged down by slower economic growth, according to the report by the research and money-management firm founded by Laszlo Birinyi.
Birinyi, one of the first money managers to advise buying stocks before the S&P 500 rebounded from a 12-year low in March 2009, maintained his bullish stance even as the gauge lost 13 percent since April. He said in March, April and this month that the rally that lifted the index as much as 80 percent was too young to end, if history was any guide.
âWe continue to be optimistic and comfortably so, but also realistic and pragmatic,â according to todayâs note. âWhile we are disappointed that the marketâs July rally did not âbreak outâ our view is still that one can have a respectable year in stocks with some discipline and diligence.â
http://www.bloomberg.com/news/2010-...to-1-225-implying-full-year-gain-of-9-9-.html
By Whitney Kisling - Aug 25, 2010 2:54 PM PT
Birinyi Associates Inc. lowered its year-end forecast for the Standard & Poorâs 500 Index by 7.5 percent to 1,225, saying it sees little prospect for gains in companies from Wal-Mart Stores Inc. to Procter & Gamble Co.
The estimate implies a 16 percent advance from todayâs closing price and a full-year increase of 9.9 percent. Thereâs a 20 percent chance the benchmark gauge for U.S. stocks will trade in a range of 1,000 to 1,150, buoyed by corporate buybacks and mergers while dragged down by slower economic growth, according to the report by the research and money-management firm founded by Laszlo Birinyi.
Birinyi, one of the first money managers to advise buying stocks before the S&P 500 rebounded from a 12-year low in March 2009, maintained his bullish stance even as the gauge lost 13 percent since April. He said in March, April and this month that the rally that lifted the index as much as 80 percent was too young to end, if history was any guide.
âWe continue to be optimistic and comfortably so, but also realistic and pragmatic,â according to todayâs note. âWhile we are disappointed that the marketâs July rally did not âbreak outâ our view is still that one can have a respectable year in stocks with some discipline and diligence.â
http://www.bloomberg.com/news/2010-...to-1-225-implying-full-year-gain-of-9-9-.html
Thursday up. Friday up on open. Look to get short for the weekend.
