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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: sylvester80 who wrote (72123)	5/28/2002 3:05:13 PM
From: Softechie	Read Replies (1) \| Respond to of 99280

ROFLMAO! Pelosky: No need to sell in May By Julie Rannazzisi 05/28/2002 14:38 -------------------------------------------------------------------------------- Morgan Stanley's global strategist Jay Pelosky said following the old adage to "sell in May and go away" would be a mistake this year. He maintains that earnings are on the cusp of a recovery that will help to propel stocks higher. The second-quarter could mark the start of positive year-over-year improvements following the worst earnings decline of the past 30 years, he said. At this point in the cycle, Pelosky believes stocks need to see economic growth -- and not lower rates -- in order to move forward. "Low rates have helped sustain equities at what appear to be historically high valuations. I believe low rates from here would be construed by stocks as being a bearish indicator for the likelihood of economic recovery --- and hence earnings," he told clients in a research note. "Rising short rates would not be a surprise to anyone." Pelosky advises investors to be "opportunistic" and said he would look to add to positions on weakness.