USAA's Wasif Latif: European Stocks More Attractive Than U.S. Stocks On Relative Value Basis, Need Policy Catalyst

Wasif Latif, Head of Global Multi-Assets at USAA Investments, told CNBC last week that he believes emerging market and European stocks are more attractive than U.S. stocks on a relative value basis.

Dennis Gartman: Stay In Cash And Short-Term Bonds

Bear market alert! On CNBC's Europe Squawk Box this morning, Dennis Gartman, founder of the Gartman Letter, said:

S&P 500 And Volatility In 2007 Vs. 2014 (Part II)

I noticed back in July that the S&P 500's chart kind of looked like its chart in 2007 when the VIX, the S&P 500 volatility index, was just starting to rise. Now in mid-October, it looks like the S&P followed that path somewhat. In the second half of 2007, violent corrections and bounces ultimately formed the top of the 2002-2007 bull market.

Sterne Agee's Carter Worth: Stock Market Correction Is Not Over

Is the recent market pullback a buying opportunity? Carter Worth, Sterne Agee's Chief Market Technician, doesn't think so. Today on CNBC's Futures Now, he backed up his call with some statistics.

Bill Ackman: Herbalife's Earnings At Risk From Venezuela's Exchange Rate (HLF)

Bill Ackman, founder and CEO of Pershing Square Capital Management, thinks Herbalife's Q3 earnings will be hurt by Venezuela's exchange rate. On Bloomberg TV today, he said:

Hussman: "Only 28% Of NYSE Stocks Are Above Their Respective 200-Day Moving Averages"

John Hussman, President of Hussman Investment Trust, is out with an urgent warning on the stock market in a note titled "Air-Pockets, Free-Falls, and Crashes." According to John Hussman, "only 28% of NYSE stocks are above their respective 200-day moving averages," and it looks like the S&P 500 tested its 200-day moving average on Friday (chart below). The last time the S&P 500 crashed through its 200-day moving average was in 2011, when the last major correction occurred. The S&P recently broke through its uptrend from 2011, so a correction is even more probable now, in my opinion.

The Stock Market This Week (Skiing Over Cold Lava)

Will $SPX bounce off its 200 day moving average or crash through it?

David Levy: We Are In A Period Of Secular Asset Price Declines (Institutional Investor Video)

David Levy, chairman of the Jerome Levy Forecasting Center, shared his views on the U.S. economy, asset prices, leverage, and emerging markets in an interview with Institutional Investor on October 8, 2014. Watch the video below.

On corporate and household leverage:

Conversation Between Mario Draghi And Stanley Fischer At Brookings

Here are key quotes from ECB President Mario Draghi's remarks at the Brookings Institution today (transcript and video after the jump):
Let me be clear: we are accountable to the European people for delivering price stability, which today means lifting inflation from its excessively low level. And we will do exactly that. The Governing Council has repeated many times, even as it was adopting new measures: it is unanimous in its commitment to take additional unconventional measures to address the risks of a too prolonged period of low inflation. This means that we are ready to alter the size and/or the composition of our unconventional interventions, and therefore of our balance sheet, as required.
I recently said of monetary policy that, at the current juncture, the risks of doing too little exceed the risks of doing too much. If we want a stronger and more inclusive recovery, the same applies to doing too little reform.
Earlier today, I posted that Barclays thinks the ECB will announce QE by the end of the year. It looks like the stock market is starting to demand more liquidity (see the quote widget), especially since the Federal Reserve is winding down its QE program.

Barclays' Ian Scott: ECB To Announce QE Before End Of Year

Yesterday, Barclays' Head of Global and European Equity Strategy Ian Scott told Bloomberg TV:
Apparently, the only policy option open in Europe is quantitative easing. We believe the ECB will act before the end of the year to conduct a program of QE, or at least announce it, and that should have a pretty positive impact on the stock market.