says.
Those long who were trapped in (average down) are looking for opportunities to get out, and those weak short who coverd during this rally (it is the short who fuled this rally only, not many buyers at all) are facing serious loss. So it is about time for MM to harvest.
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April 6 (Bloomberg) -- Investors are depending on banks more than at any time in at least 60 years to lead the U.S. out of the longest earnings slump since the Great Depression.
American companies will end more than two years of declining income by the fourth quarter, according to analyst forecasts compiled by Bloomberg. Banks will be responsible for all of the 76 percent rebound in the final three months of the year, because without financial companies, the gain turns into a 4.5 percent decline, the data show.
Rathbone Brothers Plc, MFS Investment Management and TD Ameritrade Holding Corp. say the reliance on banks is making them increasingly concerned that the 25 percent gain by the Standard & Poor’s 500 Index since March 9, the steepest rally since 1938, will dissipate. While rising home sales and durable- goods orders show the economy may be bottoming, unemployment and consumer debt as well as prospects that banks will be forced to write down more loans may halt the gain in equities.
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http://www.bloomberg.com/apps/news?pid=20601087&sid=aR3a_1npaBgw&refer=home
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