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You’ve got “your head in the sand” if you’re bearish in this market, a Morgan Stanley portfolio manager said.
Markets are moving from their fear stage to greed stage, Andrew Slimmon told CNBC.
“If you look at history, it is an extraordinarily bullish signal for the market.”
After all the wild moves markets have made in the past couple of years, the S&P 500 is nearly back where it was at the start of 2021.
But stocks are poised for a breakout as investors recover from their whiplash and switch gears, according to Andrew Slimmon, senior portfolio manager at Morgan Stanley Investment Management, who pointed to improving breadth in market gains.
“If you look at history, it is an extraordinarily bullish signal for the market,” he told CNBC on Wednesday. “You have to have your head in the sand to really be bearish at this juncture. It means the market is breaking to the upside.”
The S&P 500 is less than 1% away from its all-time closing high after…
2023-12-27 19:22:11
Article from finance.yahoo.com
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