Uh oh, this just out at Telegraph.co.uk. Bob Janjuah, Chief Credit Strategist at RBS believes the V shaped recovery will fail and "expects global stock markets to test their March lows". He made some good calls last year: RBS issues global stock and credit crash alert (Telegraph, June 18, 2008). This could explain the elevated put/call ratios on SPY today. Watch out for black swans!
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RBS uber-bear issues fresh alert on global stock market (Telegraph.co.uk)
Friday, August 14, 2009
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