by Bill McBride on 10/04/2009 11:30:00 PM
Sunday, October 04, 2009
From Bloomberg: Roubini Says Stocks Have Risen ‘Too Much, Too Soon, Too Fast’
“I see the risk of a correction, especially when the markets now realize that the recovery is not rapid and V-shaped, but more like U- shaped. That might be in the fourth quarter or the first quarter of next year.” [Roubini said in an interview in Istanbul on Oct. 3.]As I've noted several times, a V-shaped or "Immaculate" recovery seems very unlikely.
“The real economy is barely recovering while markets are going this way,” Roubini said. If growth doesn’t rebound rapidly, “eventually markets are going to flatten out and correct to valuations that are justified. I see a growing gap between what markets are doing and the weaker real economic activities.”
Futures are up slightly ...
Futures from barchart.com
CBOT mini-sized Dow
CME Globex Flash Quotes
And the Asian markets are mixed.
Best to all.
Posted by Bill McBride on 10/04/2009 11:30:00 PM