Economist, David Rosenberg recently of Merrill Lynch and now at Canadian money manager Gluskin Sheff speaks out on how the recent rally was a “suckers rally” and what to do during the next downleg in the market.
He makes the point that the biggest gainers in the recent rally were low quality stocks where the runnup was nothing more than short covering in the DASH FOR TRASH.
He may have a point as the rally seems plump.
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