Wall Street strategists remain bearish, says BofAML2 October, 2012, 0:22. Posted by Zarathustra
We mentioned a few times that although sell-side is generally bullish, strategists have never been that bearish according to Bank of America Merrill Lynch’s sell-side indicator.
After QE-Infinity was launched, the bearishness as measured by this indicator remains more or less unchanged. According to BofAML, this is a reliable contrarian indicator, and given the persistent bearishness, the indicator is still flashing buy.
Source: Bank of America Merrill Lynch