PIMCO JUST SAID SELL GET OUT OF MARKET!!!!!!!!!!!!!!!
"In terms of equity markets, El-Erian says investors are split into two camps. One camp believes that everything will go higher and central banks will succeed in their efforts. The other camp believes asset prices are going to come down to meet the fundamentals.
El-Erian puts himself in the second camp.
“We think that prices are artificially high, that maintaining them here is going to be hard as central banks become less effective, and that it’s time to book some profits and to wait for some better entry points,” he explains.
He clarifies that this is not a “Lehman moment." But “prices that have gotten way ahead of what policy can deliver," he declares."
Longs and Ben think this game will never end. Eventually one huge institution is going to realize they have to be the first one out. It will be like that movie Margin Call. Sell regardless of what happens. Just make sure we're the first ones out.