Friday, 26 February 2016

1pm update - the bullish hysteria returneth

Not surprisingly, with US equities continuing to broadly climb up and away from the Feb'11th low of sp'1810, the bull maniacs are starting to get overly confident again. Stoltzfus of Oppenheimer is just one of many guests in the mainstream now touting a broad rally to year end.



Indeed, as expected. with continued upside, the mainstream are starting to increasingly confident again.

It is utterly ironic of course, considering that just a few weeks ago they were getting real upset, with talk of possible QE4 and NIRP.


Stoltzfus - sp'2300s by end 2016.

My original outlook was for a late spring/summer washout to the 1600s... and then year end to 2185.

For now... I think its merely a case of seeing what the bears can manage in the next wave lower from mid March onward.

A grander issue remains capitulation in the oil/gas/mining industry. How much upset might that cause? Is Deutsche bank going to be taken down? If so... its hard to imagine the sp'500 being able to hold 1600.

Just noticed...

Pretty interesting to see another analyst tout the sp'1600s, and I'll give clown finance TV some credit for balancing out some of the bullish hysteria.

back at 2pm