Here's a quick hit, we'll update in an hour.
From MarketBeat:
Bearish SocGen Analysts: ‘Batten Down the Hatches’
Societe Generale’s ursine markets strategists Albert Edwards and Dylan Grice pubbed a note Monday pooh-poohing September’s stellar run for equities:...MORE
September has clearly been a great month for equities as the dire oversold position seen in mid-year has been successfully worked off (see front page and chart below). But with almost 90% of stocks now above their 50-day moving average, it is time to batten down the hatches. Expect the market to soon display its normal fickle promiscuity in reverse: warmly embracing weaker-than-expected economic data while shrugging off its recent fondness for strong data.
UPDATE: "More from Société Générale's Albert Edwards (Oct. 5, 2010)"
Recently:
Sept. 26
The Financial Times Gets to the Heart of What Société Générale's Albert Edwards is Saying (Sept. 24, 2010)
Sept. 25
Société Générale's Albert Edwards: On Terminal Competitive Devaluation, The Nuclear Option, And How The Fed's Policies May Start An All Out War (September 22, 2010)
Sept. 20
Société Générale's Albert Edwards: The descent into global C-H-A-O-S (September 20, 2010)
Sept. 10
"Société Générale's Albert Edwards: 'Equity Investors Are In A Vulcan Death Grip And Are About To Fall Unconscious"' (September 2010)
We have a lot from Albert. Copy and paste the keywords
"Société Générale's Albert Edwards
in the blog search box.
