Tuesday, June 06, 2006

The Soothsayers are getting louder

I was just listening to another interview, this time with Barry Hyman, equity market strategist at EKM financial. He expects to see the S&P hold around 1240-1250, with no upside beyond about 1320-1350. And if it gets bad enough, it could go down to 1150-1180 during a "second decline" between late summer to early fall. Today's close was 1263.85

He believes there is "excess" in the market, and is looking (even hoping) for another Bear rally soon to provide opportunities to buy good stocks from late in this year to early next year. They just aren't sure exactly when, but they believe it will happen.

He just laid out everything I've been piecing together all in one sitting. This is just one more comfirmation of the theories I've been hearing from the "quiet" newsmakers of the Street. And I think it's about time to start finalizing strategies to approach this (Puts, anyone?).

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