Permabear Doomster: All Bark With No Bite

Permabear Doomster:

Editor: Vladimir Bajic | Tactical Investor

Permabear Doomster

“I think we’re in a rolling bear market. Every sector has gone down at least 11 or 12 per cent at least once this year. Some were down 18, 19, 20 per cent,” Mike Wilson, Morgan Stanley’s chief U.S. equity strategist, said on CNBC’s “Halftime Report” on Thursday. “It’s fooling everybody at the index level, but there’s a lot of pain out there: Staples, homebuilders, some of these semiconductor stocks that are more cyclical are having problems.”

The strategist’s comment came as the major market indexes added to their weekly losses, with the S&P 500 down 0.3 per cent and the Dow Jones industrial average down nearly 1.2 per cent since Tuesday. Markets were closed Monday for the Memorial Day holiday.

“A bear market to me doesn’t [necessarily] mean the market has to go down 20 percent,” he said. “A bear market is a tougher environment, it’s hard to make money. Volatility is a lot higher, so I don’t care what kind of portfolio you’re running, you can’t run as much risk anymore, you just can’t do it.”

“We think it’s pretty obvious that the market had discounted the news on tax cuts, global growth and still supportive financial conditions,” Wilson wrote. “In many ways a correction or consolidation was overdue and makes perfect sense. The question is whether or not this turns into something more sinister.” Full Story

Permabear Doomsters State Bearish Spelling is Hitting Markets

The benchmark index so far witnessed an erosion of almost 600 points in the ongoing bearish run.

The market started the day off on a bearish tone, posting intraday high of 24 and a low of 590 points, respectively. However, a stellar 46pc growth in bottom-line profits of National Bank, which closed the session higher by 1.58pc, helped the index recover slightly from its lows.

Sell-off in fertiliser scrips worsened after yesterday’s Economic Coordination Committee’s meeting decided to form a committee under the chairmanship of Adviser Abdul Razak Dawood to hold discussions with the industry. According to initial reports, the finance ministry may urge fertiliser producers to pass extra gains of Rs10 billion to consumers. The sector was primarily responsible for today’s decline contributing 196 points to the slide. Full Story

A Permabear Doomster Making A Fool of Himself

Will These Permabear Doomsters Get It Right

It is amazing how Permabear doomsters that always get it wrong are widely followed

One would think that by now the crowd would wake up and throw them under the bus, but it appears that misery loves company.

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