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Goldman's David Kostin defends his year-end S&P 500
target of 1250
, telling clients to exit stocks before the fiscal cliff hits. He says the chance of Congress not reaching an agreement is greater than what most investors believe, and harks back to last year when the S&P dove 11% in 10 days amidst the debt ceiling fracas (providing a great buying opportunity, no?).
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As long as investor sentiment is not defined clearly is difficult for a big correction. The proof is that the market is self corrected when a downtrend starts. The mechanism is self adjusted and might be controlled by market leaders. When the investor feel that they missed the rally and they decide to enter despite the high levels,then a correction starts as buying opportunity. After a couple of bear traps where more investors entered the market the correction is coming with an amazing pace.We all know but should implement stop loss.trailing ATP loss is the best but only few institutions apply same.we have to wait for a couple of years to see something serious on the down side,when bears will be exhausted to wait till 2009,and this is the 04/14 in my opinion.
Aug 20, 2012. 04:30 PM
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