Adam Parker, chief US equities strategist at Morgan Stanley sees the
S&P 500 plunging to close the year at 1,214. Weak earnings,
multiples contracting, and a downward shift in sentiment will pave the
way for a rough fourth-quarter in his view.
Given the poor global macro economic environment the strange thing is
that this should be regarded as controversial but then the never ending
free flow of money from the QE program has left us in an unreal world
that could easily turn into a nightmare…
Although he didn't mention it I am 100% sure he is now convinced Obama will be re elected and that's why he has this stands. I am sure if he thought Romney would win he would have said new highs on the S&P...
Funny how Wall Street acts like they are not political :)
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