That was followed by their call "CREDIT SUISSE: BUY THE DIPS – THE BEAR ISN’T HERE YET"' which we posted on February 2, 2010.
Here's the chart of the DJIA since Oct. 1, 2009, from BigCharts:
That second post came six days before the market ended it's Jan.-Feb. swoon, at 9,908.39.
We closed yesterday at 10,888.83 up 13.4% form the Oct. 5 close.
The picture is similar if you use the S&P and if I had wanted to be dramatic I'd have used the NASDAQ.
Here's the latest via Pragmatic Capitalist:
Credit Suisse recently told investors to buy the dips as the
marketapproaches 1200 and their outlook is proving prescient thus far. CS is maintaining their macro outlook of a strong H1 and weak H2 (in-line with my own views). They maintain that the market should remain in a bull phase thru the next 2 quarters. Nonetheless, they do warn that the market appears stretched in the near-term as the rally extends itself:
“Some of our tactical indicators suggest that market looks a bit stretched very near-term but overall they are still consistent with equities heading higher on a 1-6 month view:
market looks a bit overbought when we look at the % of stocks
tradingabove their 10-week MA.