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Bank of America: Selling Will Continue, “Big Low” For Stocks Is Yet To Come

Mac Slavo
November 19th, 2018
SHTFplan.com
Comments (29)
Read by 2,969 people
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Many economists and financial analysts have said that the economy isn’t doing as well as the talking heads on TV are proclaiming. And now, even the Bank of America says it’s time to prepare for an even lower stock market, as that hasn’t come yet.

The recent stock market slide may look bad, but it wasn’t bad enough to indicate that the damage has been completely done, according to Bank of America Merrill Lynch. That means it will only get worse as we have yet to hit “the big low.”

Even after a day when the Dow industrials lost 602 points and as the Nasdaq tech barometer remains in correction territory, indications of a bottom remain elusive, the bank said in its latest survey of professional investors. “We [Bank of America Merril Lynch] remain bearish, as investor positioning does not yet signal ‘The Big Low’ in asset markets,” Michael Hartnett, BofAML’s chief investment strategist, said in a statement.

The sharp decline that began in mid-October continues to chip away at the stock market and it’s causing some to put out warnings that we should be prepared for a crash. In such cases, Wall Street strategists look for signs that sellers are exhausted and the market has reached sufficiently low levels as to indicate a bottom. And the concerns are global.

According to NBC News, a net 44 percent of respondents see global growth decelerating over the next year, representing the worst outlook since November 2008. As part of that, a net 54 percent see China slowing down, which is the highest level of pessimism in two years. Global earnings growth expectations are at their lowest levels since June 2012.

A good number of investors continue to cite the trade war as the biggest risk to the overall economy and stock market, though they also are concerned about interest rate hikes from the Federal Reserve which will hugely impact the rising levels of corporate debt.

The November BofAML fund manager survey indicates both an increased allocation to U.S. stocks and a belief that domestic large caps will be among the worst performers in 2019.

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Author: Mac Slavo
Views: Read by 2,969 people
Date: November 19th, 2018
Website: www.SHTFplan.com

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29 Comments...

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  1. Kevin2 says:

    The Stock Market didn’t make its tremendous gains through stellar demand and with it profits. It was greatly backdoor fed with QE money, stocks shares were bought back thus raising its price. From the perspective of law its legal, from the view of ethics its fraud which stock buybacks were once considered prior to the evisceration of Glass Steagall. The market has no real legs supporting it.

    • Eisenkreutz says:

      IVE NEVER HEARD YOU BOOMER APES TAKE RESPONSIBILITY FOR ANYTHING, EVER

      WHO IS RESPONSIBLE FOR THE STATE OF THE COUNTRY?

      SANTA? THE EASTER BUNNY? SPACE ALIENS?

      NO, I THINK BABY BOOMERS CAUSED ALL OF THIS

      • The Deplorable Renegade says:

        Eisen AGAIN? HO HUM, back to sleep.

      • Kevin2 says:

        By the time “The Boomers” became a potential political force the oil peg replaced Bretton Woods. The plutocratic oligarchy planted its seed in 1913 and all subsequent generations marched in lockstep. The “Boomers” are neither culprit nor absolved however they were the first generation to question the system. This clip from the iconic 70s movie “Animal House” states the political obvious.

        “Flounder, face it, you fu$7edup, you trusted us”

        h ttps://www.youtube.com/watch?v=-glKGjp50Ug

      • Old Sailor says:

        Go climb back in your hole.

      • Al Keyhall says:

        @ iron cross:

        Who gives a fuck. I’m closer to death than I am the life of the party. Why get all upset about the state of the fuckin’ country. I’m gone pretty soon and I left no litter behind. It’s your problem. I’m treating this place like the fuckin’ rental car that it is. And I’m turning it in trashed with the bumper hanging off. Fuck the insurance. Fuck the country. I didn’t ask to be here.

        Paraphrase of Doug Stanhope

    • Stuart says:

      Amen.
      Few readers will understand the depth of truth in your brief post.

      • The problem is, our generation is not really stepping up to the plate either. It appears most of our generation seems to be hypnotized by the fake standard of living the globalist have built to keep all of us peasants distracted. I say all generations of Americans need to band together and start fighting these evil basterds. We will need to pay with our own pound of flesh. They will not go quietly in tht night. May God help us ALL….

  2. rellik says:

    Everybody with half a brain knows the market in general is overpriced, some individual stacks are a good buy, but most are GE
    a powerhouse brought down by reality. The market is operating more like a casino than a place to invest. The common people are gambling, the people “in the know” are making the money. The house always wins.
    PM’s are another such market. Only the people “in the know”
    are making the money.
    I stick with bonds as I can’t afford to gamble at my age.
    Granted inflation is killing me slowly, but I’m counting on a Depression to even things out if only for a while.

  3. rellik says:

    “but most are GE
    a powerhouse brought down by reality”
    Should be
    “but most like are GE, a powerhouse brought down by reality”

    I really wish we had a minute or two after posting, to edit.

    • Stuart says:

      GE was destroyed by an asshole named Jack(off) Welch who CNBS couldn’t fawn over enough. Turned a great industrial comapnay into a financial company just in time for the financial collapse. You can bet he still accepted his millions though.

      • the blame-e says:

        Jack Welch is a liar. “We will never get rid of high tech. Never.”

        I worked for GE back in the 1980s. Back then Jack Welch was called “Neutron Jack.” Jack would fly into these GE locations in his Bell Jet Ranger. When Jack left, the people were gone. Only the buildings were still standing. He got rid of the people, and the numbers followed.

        Silicon Valley might want to take a close look. What part of their operations could not be out-sourced? Their manufacturing has always been “Made In Someplace Else.”

  4. Stuart says:

    Ah yes, Bank of America. One of the banker morons we had to bail out because they’re so smart.

    • Infidel says:

      Actually they knew exactly what they were doing. The banksters stole billions from the taxpayers with their brilliant con scheme and got away with it.

    • the blame-e says:

      For 5-years after the Crash of ’08 – ’09, our Bank of America branch had armed guards posted out front. Shyster banksters protecting themselves from American Citizens (their customers). Sounds like my country.

  5. the blame-e says:

    I want it all to go. I want the reset. It should have all gone away in the Crash of ’08 – ’09. The Bail Out only delayed the inevitable. End the FED. You listening Hank Paulson? Yes. Of course you are. We all remember you.

  6. kingfish says:

    The stock market is manipulated by the fed and many Soros like individuals, most of which we have never heard of, they stay behind the scenes, in the swamp. Of course I only give my opinion without facts based on many years of observing and investing in the stock market. There are many legitimate corrections that come and go but the major downturns generally come in september-october- early november usually in election years when the big bosses want to change political makeup. 2008 when Obama was running is a good example. As the markets fall so does the sentiment for the party in power, so the other party improves its chances. And they generally want the more liberal candidates to win. The only way to get to true markets would be to end the Fed and the power of the big banks over the markets,,, but that will not happen, ever. KF

  7. The whole system is going to collapse….and there will be nowhere for them (banksters, politicians, lawyers, etc…) to hide. I envision a scenario where I see thousands of them hanging from lampposts like Mussolini..!!!!

  8. Anonymous says:

    With the Democrats back in control of Congress, there is little good news to be coming from the financial scene.

    The best we can hope for is stagnation, but I’m guessing it won’t be called that and you won’t be seeing the Democrats taking credit for it.

  9. Spud says:

    On a personal level, I’m tickled pink to see this happening.
    I’m a renter of the same house for the past nine years.
    My landlord has decided to sell it out from underneath me.
    Because as per usual, the housing market has inflated right along with everything else into one giant bubble !
    Can’t really blame the owner either. It’s the American Crapitolist way…sell high on the bubble and make the other guy take the fall.
    Greed being firmly in control.
    Personally, only an idiot would buy a house here right now.
    Way too uncertain which direction things are going…

    Sitting in limbo , praying for a crash here.
    My assets are in PM’s

    • rellik says:

      Spud,
      Many years ago I had to sell a rental house much to the dismay of my tenant. He was really pissed. He had a very reasonable rent and a responsive landlord(me), but I was so economically stretched, I could have lost both my properties, one of those being his home. I had less than two month’s mortgage money in the bank and some big time expenses showed up. I had to dump that property or raise his rent very dramatically above market. I did not have enough equity to borrow for emergencies or income to pay for a second mortgage. It was a very difficult decision. I offered to sell him the house at a very under market price, but he wasn’t interested.
      Though I’m a landlord again( 30 years later), I still don’t like the hassle, but I’m debt free and can tolerate the inevitable un-expected expenses.

      • Spud says:

        Relik
        I don’t blame the owner whatsoever. They too are having difficulties.
        Reason I’m pissed is that just six months ago was promised the house would never be put on the market, nor would my rent be increased. In the nine years I’ve been here. I’ve not only maintained the house but have improved it significantly. After the continued promise not to sell, invested even further just this year.
        Just goes to show that people’s word has little value these days.
        Money talks and bullshit walks eh.
        Oh , they offered me first right to buy…at Max value only a fool would pay lol.
        One lesson I’ve learned in life is to never buy at peak value. Especially when the coming decline is so very evident.
        Working against me here , the blinders folks put on about forever growth. Foolish greedy people there are plenty of…

        • Stuart says:

          Spud the renter thinks the owner owes him something.
          Hey Spud, only an idiot buys someones else’s house for them.

          • Spud says:

            Stuart
            In many ways this is true.
            Though not in all cases.
            In this particular case, I had an arrangement that I’d take care of all upkeep for an agreed price to rent. The agreement was that in exchange the owner supposedly would never sell. They, the owner planned on passing the property to their children.
            Houses in my area are extremely over valued and I did not plan on staying here.
            I’m only pissed, because they went back on their word.
            Something which is short in supply , in our greedy world.
            Yes , I’m an idiot for believing the owners sense of honor.

            In this area, I’ve been paying less than half what it might have cost for a mortgage. So does that make me an idiot ?
            Perhaps…

  10. Beaumont says:

    It is irrelevant and misleading, to be looking at line graphs and decimals, and pretending to be a fortune teller.

    I think that law comes from the barrel of a gun, that market controls are a law, and that speculators expect the discrete, knowable terms of their contracts to be guaranteed by the govt.

    I don’t think that rich money interests are gamblers or that trade gurus are in a position to help. People who pay for this crap advice are like the ones who pay for the Rex-kwon-do courses.

  11. k9base says:

    shekelz…………make the world go round….

    • Beaumont says:

      Shekels are the world reserve currency, or does some Gentile govt make the world go round, under which, you can buy porkmeat on a Saturday? Jewish conservatives, who want sovereignty for Israel, see the other kind as court Jews, like an Uncle Tom.

  12. rednek101 says:

    Rough math shows the DOW is down 7.5% since October. I’ve read where a 10% correction isn’t out of line. If we do a big correction in baby steps over time, maybe we can keep a panic from occurring.

    ht tps://www.businessinsider.com/a-big-market-correction-is-inevitable-a-wealth-adviser-explains-how-to-prepare-2017-4

    Happy Thanksgiving

 
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