This is an interesting video from the founder/CEO of ISI Group and F. Trahan, one of his equities analysts - the street loves these guys, they are BULLS, tied to the hip with the large banks (otherwise they would not be in business today...).
Part 2 of the interview is much more interesting (Trahan), part 1 is politically correct. What this video reinforced for me, and also helped get through last week nicely:
1. Insiders know that starting in 2010 things will get ugly, 2011 will be a disaster 2. Lots of volatiliy ahead for 2010 3. The market has risen to these ridiculous levels in 2009 and has nowhere to go but down - I like Trahan's politically correct prediction for next year's DEC. 2010 S&P target - it will be "same level as today". (To me this is a huge statement: it means that institutions will have to turn and SHORT the market to continue producing profits and bonuses - NOBODY on Wall Street wants a flat year). 4. Trahan has a smirk on his face the whole time that says - "people will ger crushed in the markets...I can't come out and say it"
Folks, let's read between the lines here.... you draw you own conclusions.