The eggheads over at Goldman Sachs are out with a bullish note on the
markets this morning which — along with CIT — might be contributing a favorable
breeze into the sails of the stock market.
The folks over at 85 Broad Street essentially see the market recovery from the financial crisis as a three-pronged process they call “Pop, Stall, & Sustained recovery.” (Which could also, by the way, make a sweet slogan for a line of breakfast cereals.)
Goldman writes:We have experienced the brief euphoric one-month “pop” phase of the
typical equity market recovery from a bear market low (27% rally from 667 to 850), endured the characteristic several-month long range-bound “stall” period (10% range from 850 to 940), and now we anticipate a more extended “sustained rally” in the U.S. equity market during the second-half of 2009....MORE