“[T]he Wizard of Oz’s curtain will be soon opened and investors will finally begin to see whether the flight path of economic growth is steady enough to support stocks at current levels. Personally, I remain skeptical.
“Thus far in 2015, I’ve envisioned a sawtooth pattern lower in the belief that a major market top is forming. Tactically, I’ve adopted a ‘short the rips and cover the dips’ strategy that’s paid off so far.
“But at some point — probably in the relatively near future — it will be more appropriate to ‘short the rips and stay short.’ After all, the ‘Big Short’ might be soon at hand.”
— Excerpt contributed by Jason Kelly
_____________________________________
| Z-val: | Doug Kass |
| Via: | Tumblr |
| Date: | 8/4/15 |
| Disposition: | Short-Term Bearish |
| S&P 500 on 8/4/15: | 2093 |
| S&P 500 on 11/4/15: | 2102 |
| Change: | +0.4% |
| Judgment: | Wrong |
Z-val definition and more forecasts in The Z-val Zone.
