The bull market is about to end, says UBS’ Julian Emanuel.
For months we’ve been warning of a stock market crash.
Money Morning Capital Wave Strategist Shah Gilani – a former CBOE trader, co-creator of the VIX (“fear index”), and hedge fund manager – has seen a bear market just over the horizon since March 2014.
“Without a 10% correction since 2011, stocks are increasingly vulnerable at this juncture. The truth is there’s an intense Wall Street battle about to be waged between bulls and bears. And if you don’t see this big picture, you could be in for a rude awakening.”
“Signs are accumulating that, after six-and-a-half years and price gains of more than 200%, the Bull Market has entered into the ‘Late Innings,’” Emanuel wrote in a note released to investors on Friday. “M&A activity – as revenue growth stays challenged – has been feverish, and the announcement of talks between Pfizer Inc. (NYSE: PFE) and Allergan Plc. (NYSE: AGN) is reminiscent of deals such as AOL/Time Warner in 2000 and RBS/ABN-AMRO in 2007, blockbusters in market leading sectors which were followed by major market tops.”
Full article: UBS: A Stock Market Crash Is Inevitable (Money Morning)