DJ MARKET TALK: Equities On Verge Of Very Violent Rally -Broker
0453 GMT [Dow Jones] World equity markets are "on the verge of a very violent and savage short-term bear market rally," according to Goldman Sachs JBWere. Says with DJIA down 20% in 17 days, it's one of the most extreme short-term oversold positions in 20-50 years. Cites American Association of Individual Investors data showing 70.27% of investors were bearish as of Thursday, highest reading since index creation in 1987. S&P/ASX 200 up 0.8% at 3169.7. (DWR)
20% in 17 days does seem a bit over done.