Roelof Van Den Akker, ING’s senior technical analyst, spoke to CNBC this morning about the U.S. market. While it seems nearly everyone has gone bullish, particularly on H1 2011, Van Den Akker has gone bearish saying now is a good time to sell. He sees the DOW at a key technical level, that’s going to take it south by 15%.
- 0:40 We’re at least in for a short term pause after the rally, but in my opinion we’re on the brink of a correction. We’ll likely correct in Q1 to 10200 or 10000.
- 1:30 Around a 15% drop is what we’re expecting; everyone is bullish right now… this is the best excuse to sell stocks right now.
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