Not So Fast…

The rally in stocks this week, particularly in the tech leaders, was pretty fantastic.  And while there was a lot to like, Alan Abelson is thrilled to be armed with some intel that says “not so fast!”

From Barron’s:

Yet, even while the Dow and the other indices kept the winning streak alive at week’s end, there were signs that more than a few bulls decided to cash in profits or were reluctant to carry longs over the weekend, as declines outnumbered advances in the final session…

The latest monthly report put out by our old friend and smart-as-a-whip market watcher, Steve Leuthold, avers there’s still significant downside market risk and suggests an ultimate bottom for the S&P 500 somewhere around 955-995; it closed Friday at 1,216.01.

As the report says, historically, non-recession-related bear markets, which presumably is what we’ve been experiencing, are shorter in duration than recession-related bear markets, but the magnitude of the decline is roughly the same.

Alas, as it wryly points out, “Losing the same amount in half the time is little consolation.”

There’s an awful lot of room between between here and 950, yet that number continues coming up everywhere you look these days.

Take Abelson with a grain of salt, as usual; he is perpetually on the hunt for research that confirms his curmudgeonly bias, just kind of his schtick.


Vulnerable Powerhouse? (Barron’s)



This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment.

The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client.

References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others.

Wealthcast Media, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. Investments in securities involve the risk of loss. For additional advertisement disclaimers see here:

Please see disclosures here.

What's been said:

Discussions found on the web
  1. bitcoin era reviews commented on Sep 22

    … [Trackback]

    […] Here you can find 37317 more Info to that Topic: […]

  2. customer menang 2020 commented on Sep 25

    … [Trackback]

    […] Read More Info here on that Topic: […]

  3. nằm mơ thấy cóc commented on Nov 04

    … [Trackback]

    […] Find More on to that Topic: […]

  4. td login canada commented on Nov 26

    … [Trackback]

    […] Read More on that Topic: […]

  5. Click commented on Dec 11

    … [Trackback]

    […] There you will find 93945 additional Information to that Topic: […]

  6. digital marketing agency commented on Dec 24

    … [Trackback]

    […] Info on that Topic: […]

  7. scotia online canada commented on Jan 10

    … [Trackback]

    […] Read More Information here on that Topic: […]

  8. quality engineering commented on Jan 18

    … [Trackback]

    […] Info on that Topic: […]