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Doug Kass: Why the Market has Hit the High for the Year

Doug Kass of Seabreeze Capital was on CNBC yesterday discussing some reasons why he believes the market has made its high for the year.  In contrast to the Schaeffers Research piece posted yesterday, Kass offers his own set of reasons why the market will fall back to the 1300-1330 area.   The causes (of which his comments on Ryan are particularly interesting):

  • Technicals are becoming negative
  • Transports are lagging
  • Small caps are lagging
  • The VIX is historically low
  • Market is overly optimistic about QE3
  • Paul Ryan will pose a risk to the market, the fiscal cliff scenarios and potential Fed stimulus

Source: CNBC

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