“Our target is based on fundamentals. We’re basing our target on typical valuation measures, given the level of interest rates and also on earnings forecasts. And that’s why our target is relatively low.” ~ Gina Martin Adams, Wells Fargo strategist
In fact, “low” is somewhat of an understatement. Adams’ target implies that the market will drop 16 percent in little more than three months, erasing everything that stocks gained after the year’s first day of trading. This makes her one of the lone bears on the Street.
So what could produce such a dismal fourth quarter for stocks? Read here.
Sep 20, 2013 4:39pm
Adams reiterated her call that the index would close out the year at 1,440. That the market will drop 16 percent by the end of the year.
I think that this could trigger the big one. If the Kenyan doesn’t get us in any other number of other big events. In that case, we could see this even sooner. Don’t forget Europe and Russia. German’s are voting, Greece is rioting, Russia (thanks to the Kenyan) is acting boldly, the ECB’s and BOE are still printing, Syria is burning, Iran is moving forward, and China is being too quiet. The world is truly at a crossroads.
Are you ready? You have less than three months to get there.