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BAML via Marketwatch: SEPTEMBER: CORRECTION TIME: Hartnett says bull markets don't usually end with such high cash and low leverage, and also rarely end with...

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BAML via Marketwatch: SEPTEMBER: CORRECTION TIME: Hartnett says bull markets don't usually end with such high cash and low leverage, and also rarely end with tobacco being the only subsector at an all-time high. Bears looking for that big 10%-15% correction should wait until September and then buy volatility and up cash levels as Fed QE ends and rate-hike expectations grow for the Fed's Sept.17/Oct. 29th policy meetings. BofA's Hartnett has a year-end S&P 500 target of 2,000, which hasn't changed. The firm is overweight tech, energy and industrials, underweight discretionary, utilities and telecom and overweight low-beta/high quality/high growth and defensives over cyclicals. BofA's says its own Bull & Bear index is far from a greed signal of more than 8.0, suggesting the current market rally has more room to run. Article in full: (VIEW LINK)


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