Bobby, Russell getting bullish? this is a truly remarkable event. total capitulation of the bears - repeat: total capitulation. i have checked several investment newsletters and the tone is the same everywhere: yes, put/call ratios are bearish, but,but,but. Armstrong and Favors, who were both calling for a major top in april, have changed their tune completely as well: Favors is now calling for Dow 14,000 , to be achieved no later than october, and Armstrong has a new target of 18,000. while there may be little inflation in the real world, there is certainly a lot of inflation in targets for the Dow as time goes on. 20,000 anybody?
regards,
hb |
