Wednesday, April 1, 2009

William Greiner is calling the bottom

Greiner, the CIO at UMB, thinks stocks are finally at the low end of the range on a 5-year range. He's also recommending his clients start getting back into equities. What is his rationale? "From a fundamental standpoint the table has been set for financial markets to stabilize and rebound." And why is that? Because in the face of almost of every single major bearish housing index, (a number released by the NAR, far from a non-partisan group) pending home sales is sitting at 2.1%. And also because the ISM survey was 0.6 higher than consensus and is still at an incredibly shitty 36.3; let's ignore the fact that aggregate demand has been beaten to a pulp and the Institute (the I in ISM) itself has a bearish tone on the report. 

Anyone know the ticker for the triple short UMB ETF?
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Anonymous said...

Amazing how weak the reasoning is behind some of these public market calls.

Maybe this guy's right, but it won't be because his reasoning is sound.