David Rosenberg is out with a bearish piece on equities today (I hop that doesn’t surprise you).  He sees the market as still overvalued at these levels. The key, he say is that most of the rally has been built on multiple expansion and not earnings growth. Here is what he says (emphasis added)
We heard [...]

This morning, stock markets are down in Asia and Europe.  And Futures show a likely decline in the U.S.

What’s happening?  I think we are seeing the March rally hitting the wall as the technical recovery everyone is anticipating looks to come later and to be less robust. As a result, commodities are selling off horribly.  [...]

I love this guy. If you are looking for a guy who is super bearish on the U.S., then David Tice is your man.  He sees unemployment at 15%, stocks well down from present levels and a serious Depression with a Capital-D in the offing.  In short, he’s talking about a financial and economic catastrophe.  [...]

Yesterday, I wrote “Some think this is a secular bull – a view I am not discussing in this post.  Others see this as a cyclical bull-market a.k.a bear market rally  I would put Jeremy Grantham in this category.  I would also put myself here, although I do think short-covering has made this rally dangerously [...]

Nearly a month ago, back on May 5th, I highlighted some testimony by Federal Reserve Chairman Ben Bernanke before congress in a post labelled, “Bernanke expects recovery later this year“.  In his testimony, Bernanke used the phrase ‘Scylla and Charybdis’ to describe the Federal Reserve’s policy challenge regarding deflationary and inflationary forces.  I would like [...]

There has been a lot of chatter in the markets about why U.S. equities continue to rally.  Three distinct viewpoints have surfaced, two of which are bearish and one which is bullish.  Let me share those theories with you.
1. Market Manipulation aka. the Plunge Protection Team
In this storyline, someone (probably the famed Plunge Protection Team) [...]

Now at his buy-side Canadian shop Gluskin Sheff, former Merrill Lynch chief North American economist David Rosenberg is sounding as bearish as ever.  He sees the recent market rally as a bear market rally and envisages a re-testing of March 2009 lows.  He also fails to see a recovery.  After all, one can have a [...]

Not to go all bearish on you here, but I do think it is significant that a number of market pros are coming out of hiding and predicting some major turmoil.  The latest in this group is Jim Rogers.  He thinks we are about to have a serious currency crisis, with the U.S. dollar tanking [...]

As you all know, I think we are in a secular bear market rally/cyclical bull market right now. So, yes, this has been and may continue to be a powerful up-move in shares worldwide. However, I am certainly not convinced we are off to the races for the long-term here.
Now that we have gotten [...]

The U.S. stock market has been off to the races, since hitting a low in March.  The S&P 500 has skyrocketed a massive 34%, erasing all of the losses of 2009.  Is this a case of much too fast too soon?  And is this a bear market rally?
Before I tell you my thoughts, let me [...]