Is Economic Pessimism Already Worse Than The Worst Of Last Summer?

ypm968

CHART OF THE DAY: Is Economic Pessimism Already Worse Than The Worst Of Last Summer?
Joe Weisenthal         | Jun. 2, 2011, 12:28 PM | 177 |           3

How fast things can change: Suddenly everyone is bearish, and in the matter of days the talk of "double dip" and "QE2" has come roaring back.
In fact, by some measure, pessimism may already be worse than it was last August, right before QEII and the re-acceleration of positive data.
This chart from JPMorgan's Thomas Lee -- as part of his big calls to buy cyclicals -- shows that the relative PE of cyclicals vs. defensives is well lower than its historical average AND well below where it was at the market nadir last year.

dommy

tonyshen

柳言

对一个垂死的人打几剂强心剂之后，好像复活了，回光返照一下就要倒下，现在需要来一剂更强的延长寿命。