'Monster Move' Coming for Stocks: S&P Could Hit 1000 by Spring, Harrison Says
From the Tech Ticker at Yahoo Finance:
After two months of relative calm, there is a "monster move" coming for the stock market starting as early as next week, says Todd Harrison, CEO of Minyanville.com.
Harrison, who has largely been negative (and thus right) in the past year, is positioning himself for a rally that could bring the S&P 500 above 1000 by springtime, or an approximately 20% rally from current levels.
Not surprisingly, Harrison's upbeat outlook is based on a view the financials are poised to rally, despite (or maybe because of) the prevailing negativity surrounding the group.
Harrison is long Bank of America and sees potential opportunities inMorgan Stanley and Wells Fargo but, as with the broader market, for a trade only and with defined stops to limit risk if the expected advance doesn't materialize or fades quickly.
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