Odds of a continued bear market selloff increased today with this cover of Barron’s. Magazine covers like this (especially at the end of a three year cyclical runup) are typically very contrarian in nature.
Overly depressed stocks — particularly large caps — look poised for a second-half rally, even if global political and economic turmoil lingers. The biggest bargains include familiar names such as General Electric, Home Depot, Cisco, Nestlé and Lehman Brothers.
Supposedly this is the best buying opportunity in big caps since 1994. What a bunch of nonsense. We are headed into a consumer and housing led recession.
This is the best selling opportunity on “familiar names” since 2000. The best selling time for the Nasdaq was earlier this year.
Mike Shedlock / Mish/