If this is the most-hated bull market ever, as has been suggested, maybe there’s good reason for it.
While the rally this year looks good on paper—as any 15 percent S&P 500 gain by early July would—it has come on the backs of some of the ugliest internals you could imagine.
While the rally this year looks good on paper—as any 15 percent S&P 500 gain by early July would—it has come on the backs of some of the ugliest internals you could imagine.
Just look at the qualities the biggest gainers share: Low
price-to-earnings ratios, zero dividend yields, high short interest and
lowest analyst ratings.
(Read More: Junk Bonds No Longer Look So Good)
It’s not exactly a market that would win any beauty contests.
In fact, its best chance would be at a county farmers fair for “ugliest bull.” And it’s hard to love an ugly bull.
Jeffrey D. Saut, chief investment strategist at Raymond James, said he is mindful of the old market adage, “When they start running the dogs, it’s time to start looking over your shoulder.”
http://www.cnbc.com/id/100870815
Pimco US Mutual Funds Suffer Record $14.5 Billion Outflows in June
http://www.cnbc.com/id/100872338
No matter the statistics, investors remain far from giddy about the current market environment.
“This feels like anything but a real bull market,” Jeff Morris, portfolio manager and head of U.S. equities for Boston-based Standard Life Investments SL.LN +1.85%, told MoneyBeat last week.
Morris was specifically referring to how defensive stocks, such as utilities, health care and consumer staples, have led the market higher, suggesting a defensive posturing among investors even as the market continues to rally. Typically cyclical stocks, such as financials and tech, lead during bull markets. But that hasn’t been the case this year.
The obvious question is what’s next? After such a huge rally, should investors “sell in May and go away”? One chart watcher already called the top following yesterday’s sharp decline.
Or will the market maintain its positive momentum through the summer and into the second half of the year?
“This could be one the most hated/ignored moves to all-time highs in history,” T3?s Redler said. From a contrarian perspective, “maybe that’s why it could keep going.”
http://blogs.wsj.com/moneybeat/2013/05/02/is-this-the-most-hated-bull-market-ever/
“I’ll go on record saying this is one of the most detested bull markets of all time,” Hartnett told reporters Wednesday at a conference in New York.
It may sound strange that investors are unhappy with a market in which stocks have hit all-time highs. But some traders say the bull market, now in its fourth year, has gone on too long and needs to be corrected.
Still, just because some of the guests want to go home doesn’t mean the party is over, according to Hartnett.
http://money.cnn.com/2013/06/13/investing/bull-market-hated/index.html
(Read More: Junk Bonds No Longer Look So Good)
It’s not exactly a market that would win any beauty contests.
In fact, its best chance would be at a county farmers fair for “ugliest bull.” And it’s hard to love an ugly bull.
Jeffrey D. Saut, chief investment strategist at Raymond James, said he is mindful of the old market adage, “When they start running the dogs, it’s time to start looking over your shoulder.”
http://www.cnbc.com/id/100870815
Pimco US Mutual Funds Suffer Record $14.5 Billion Outflows in June
http://www.cnbc.com/id/100872338
No matter the statistics, investors remain far from giddy about the current market environment.
“This feels like anything but a real bull market,” Jeff Morris, portfolio manager and head of U.S. equities for Boston-based Standard Life Investments SL.LN +1.85%, told MoneyBeat last week.
Morris was specifically referring to how defensive stocks, such as utilities, health care and consumer staples, have led the market higher, suggesting a defensive posturing among investors even as the market continues to rally. Typically cyclical stocks, such as financials and tech, lead during bull markets. But that hasn’t been the case this year.
The obvious question is what’s next? After such a huge rally, should investors “sell in May and go away”? One chart watcher already called the top following yesterday’s sharp decline.
Or will the market maintain its positive momentum through the summer and into the second half of the year?
“This could be one the most hated/ignored moves to all-time highs in history,” T3?s Redler said. From a contrarian perspective, “maybe that’s why it could keep going.”
http://blogs.wsj.com/moneybeat/2013/05/02/is-this-the-most-hated-bull-market-ever/
“I’ll go on record saying this is one of the most detested bull markets of all time,” Hartnett told reporters Wednesday at a conference in New York.
It may sound strange that investors are unhappy with a market in which stocks have hit all-time highs. But some traders say the bull market, now in its fourth year, has gone on too long and needs to be corrected.
Still, just because some of the guests want to go home doesn’t mean the party is over, according to Hartnett.
http://money.cnn.com/2013/06/13/investing/bull-market-hated/index.html
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