Analysts Start Out The Year On The Wrong Side Of The Bed

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Includes: DIA, QQQ, SPY
by: Bespoke Investment Group

While stocks are off to their best start to a year in 25 years, don't tell the analysts that. While investors and analysts usually start out the year with an optimistic attitude, this year it seems that analysts have gotten up on the wrong side of the bed. The chart below shows the net number of analyst upgrades (upgrades minus downgrades) for each trading day of 2012. So far this year, there hasn't been a single day where analysts collectively upgraded more stocks than they downgraded. Somebody get these people some ice cream, or whatever else it will take to cheer them up.

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