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The S&P 500 has dropped 36% in the past year and the Dow is down about 35% since hitting a high around 14,280 about a year ago.

Each decline is large enough to qualify as a bear market. And yet there's much more downside ahead? Say it ain't so.

Top-ranked analyst is bearish

Top-ranked market analyst Jeffrey de Graaf says it is so, or it will be so, according to his analysis, telling Bloomberg News Wednesday U.S. stocks are only 'halfway through' their current decline. In Wednesday afternoon trading, the Dow was down about 18 points to 9,428 and the S&P 500 was up 1 point to 997.

"The big concern is that we're going into recession,'' de Graaf, a senior managing director at ISI Group Inc. in New York, told Bloomberg News. "The first part is the unwind of the previous boom, the second is the recession that follows. We're in the camp that we're only halfway through this." De Graaf has been the top-ranked technical analyst in Institutional Investor magazine's poll the last four years.

Continue reading Leading technical analyst says U.S. stocks 'halfway through' decline

Leading technical analyst says U.S. stocks 'halfway through' decline originally appeared on BloggingStocks on Wed, 08 Oct 2008 15:10:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>ISI GroupJeffrey de GraafU.S. economyWed, 08 Oct 2008 15:10:00 EST<![CDATA[Oil due for a big drop]]>http://www.bloggingstocks.com/2007/09/17/oil-due-for-a-big-drop/http://www.bloggingstocks.com/2007/09/17/oil-due-for-a-big-drop/http://www.bloggingstocks.com/2007/09/17/oil-due-for-a-big-drop/#commentsFiled under: ,

The boom in the price of oil is over, says Mike Rothman, head of oil research at the ISI Group. In an interview with Barron's, Rothman said the demand for oil is not growing at the rate many expected and that more supply is coming on-line.

Rothman goes as far to say that oil demand will show no growth at all in the fourth quarter, with the slowdown in demand coming just as the Saudis are about to ramp up production in a new field that will bring 800,000 barrels per day to the global oil market. Rothman says the Saudis are displeased that higher oil prices are now choking off demand and stimulating interest in alternative fuels. Saudi Arabia wants to ensure that oil demand grows and hydrocarbons remain the fuel of choice.

Growth in non-OPEC supplies will jump 1.3 million barrels per day this year, roughly twice what was forecast. In addition, more big fields will be coming on line at Khursaniyah, Nauyyim, Shaybah and Khurais in the next few years. Also, ethanol production is up 350,000 barrels per day this year and is expected to increase by that figure again in 2008.

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Oil due for a big drop originally appeared on BloggingStocks on Mon, 17 Sep 2007 12:08:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>inthenewsISI GroupIsiGroupMike RothmanMikeRothmanoilOPECMon, 17 Sep 2007 12:08:00 EST