The Two Forces Against this Market
There are two forces against this market as we begin the fourth quarter and both are palpable: analysts who downgrade at the drop of a hat and charts that are ugly as sin.
The first has been a hallmark of this whole advance. This morning we get downgrades like those of Fifth Third (FITB) and Allstate (ALL) from analysts who say they have run too far. Of course these stocks, while up more than 20% and 40% this year, have done nothing over a number of years. But that doesn't matter. They are considered valuation stretched. I have five of these downgrades to every one upgrade....113 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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