Leuthold Says Stocks Will Surge, Depression Avoided

[sweeps]

Steve Leuthold, whose Grizzly Short Fund returned 74 percent last year betting against U.S. stocks, said now is the time to buy equities because investors are too fearful about the economy.

Bloomberg article

[GREENBACK]

He's a very smart guy with a long track record of success. I'm crossing my fingers that he's right.

[Broken Arrow]

Bill Fleckenstein was mentioned in there as well. Two rather well-known shorters in the industry saying that shorting is now at a very dangerous level. That is a bit uplifting indeed....

Though to be perfectly fair, the article made no mention of why they believe the market won't contract any further, because it is certainly possible. It's also worth noting that a market that is "too dangerous to short" does not necessarily equate to a buy either.

Still, at the risk of sounding like a broken record, the current Dow levels are a phenomenal deal in my opinion. I wish I had more cash to buy into it....