YA THINK ???? LOL
Via ConvergEx's Nicholas Colas,
It’s great when a plan comes together.
The recipe for not just today’s rally but the whole move since Election Day is easy. Take one part new Administration with expansive plans to boost the US economy. Add in 2 measures of a Federal Reserve confident enough in existing macro growth to boost interest rates. Add a dollop of money flows.
Seems perfect, but there is one thing missing: the analysts who actually cover companies and make earnings forecasts aren’t buying it. Just look at the latest FactSet numbers – bottom up estimates for the S&P 500 have fallen this year from $133/share to $131.28 currently. In other words, the confidence that has taken stocks higher is obvious everywhere except for earnings expectations. One bright spot: our monthly look at analyst revenue expectations for the Dow stocks shows that Wall Street has (for now) stopped cutting their views on sales growth. Bottom line: US equities can only live on hope for so long.
http://www.zerohedge.com/news/2017-03-16/theres-one-missing-ingredient-market-rally-recipe?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.