Monday, April 18, 2005

Gurus are once again picking the bottom

According to Aaron Task at Thestreet.com
--With the S&P having fallen to the 1140 area (a level he'd long cited as key), Rick Bensignor at Morgan Stanley writes: "I can tell you with pretty high confidence that at least a tradable bounce should soon be in the offing."

--Over on Street Insight, Doug Kass is writing that "the preconditions for a tradeable rally are now in place."

Gurus are trying to outsmarket the market again. This is not a good sign.

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