Daily Traders Edge

Opinion: Longtime bull turned bear says S&P 500 could tumble 34.1% – MarketWatch

February 18
17:26 2016

Jim Stack also says the pain may last longer than many would expect

Jim Stack, president of Stack Financial Management: “Bear markets typically are not just a 20% decline. … [They] typically take back half or more of the previous bull market gain.”

If you were encouraged by stocks’ big rally that began last Friday and had catapulted the Dow Jones Industrial Average almost 800 points by Wednesday’s close, one longtime market bull has some cautionary words for you: Don’t be.

Jim Stack, president of Stack Financial Management and InvesTech Research, has been bullish since early 2009, sticking with stocks in the face of investors’ doubt and disbelief.

But he’s gotten more cautious over the past year, gradually lightening clients’ and subscribers’ recommended equity exposures. Now, the other shoe has dropped.

Continue Reading At MarketWatch

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