Essentially T.S. is not impressed with earnings, worries over Europe, and says the first quaters rally was based on QE hopium…
“Late last year, Todd Schoenberger, managing principal of The BlackBay Group, a money management firm, predicted stocks would plummet 35 percent in 2012.
He’s not backing off that projection, despite the fact that the Standard & Poor’s 500 Index has rallied 11 percent year-to-date.”
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