I believe we have jsut started a pretty major rally. I fall in line with some of Zulauf comments from early last week.
Echoing the forecast he made at this year's Barron's Roundtable ("Rocky Road," Jan. 19), Felix, the founder of Zulauf Asset Management in Zug, Switzerland, still believes the S&P 500 will bottom in 2011 in the 400s, down from last week's 680 and a 2007 high of 1,565. But, first, he asserts, stocks are poised for a bear-market bounce from a low this month. It could last two to four months, and boost the S&P 25% to 40%, to roughly 900. (The corresponding level of the Dow industrials would be about 8,750.)
By his calculation, "the private sector has to get rid of $8 trillion of debt."