Renewed Bear Markets
(May 11th, 2009 under Economic News , US Economy )As previously noted, the authors who I read generally agree that we have been experiencing a bear market rally in the markets and that it will soon, or perhaps already has, resume its steep declines. Here is another advocate of that position. “Merrill’s economist David Rosenberg left the firm Friday, May 8 (planned for several months). And he went out swinging. David has maintained from the beginning that the recent rocket rally off the lows is just a suckers’ rally, and he reiterated that view as he walked through the doors.”
Here is a link to the article which has extensive quotes from Mr. Rosenberg: http://finance.yahoo.com/tech-ticker/article/244597/Merrill’s-Rosenberg-Goodbye-Thank-You-Yes-It’s-Just-a-Sucker’s-Rally?tickers=xlf,dia,spy,%5Eixic?sec=topStories&pos=9&asset=&ccode=
Michael
This entry was posted on Monday, May 11th, 2009 at 1:18 pm and is filed under Economic News , US Economy .
