Marc Pado, my favorite strategist at Cantor Fitzgerald, keeps piling on the bad news. He pointed out that a few things should have “helped” the economy (ie, the stimulus package, tax rebates, fed cut – all of which take about six months to really feel) but that stocks are “being stabbed in the back by oil” and “every once in a while we get some statements that twist the knife a little bit”.
He pointed out that oil and technology have held up extremely well until today when we saw some capitulation.
He did say he thinks we are “very near” the bottom and “all we need is some sort of a catalyst to lift us up.”
Great. Any idea what that might be? Does anyone?
