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Notes to myself, possibly of interest to others.
-- Bill Northlich

Friday, July 1, 2011

Rosenberg Daily Soundbites - Change of heart?

  • The bulls are treating today’s ISM as a trophy, and they have the upper hand to be sure for now and perhaps into the summer
  • Market thoughts: We have a heck of a short covering rally on our hands, but in our view, this rally lacks conviction
  • High yield looking more attractive than equities at current relative pricing
  • Watch the unemployment rate next week
  • Sentiment turning up: It does not take much to get the masses excited again
  • Just as the onus was on the bulls to prove the 4% growth case that never came to be, it is now up to the bears to prove that the U.S. economy will not recover that quickly from the recent torpor
Bill:  I don't know if Rosie is changing his tune.  I'll watch it.  FWIW, Vitus has cautiously capitulated to the upside.  Cautiously

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