Monday, May 11, 2009

Is the Bear Market Rally Over? Overbought Say Most. Analyst says 50% move higher

The market today is overbought according to Art Cashin, CNBC contributor which is consistent with most thinking on the street today. We're still in a bear market rally and you’re going to see pullbacks all along the way.

Some are more optimistic including Scott Redler Chief Strategic Officer at T3live, who is boldly predicting Dow 10,300 by year-end, a 50% move by year end. Blodget anyone?

In other related news, SAP Co-CEO Apothekar says the economy is stabilizing. Hopefully this is a good sign for tech, startups in terms of M&A exits.

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