After posting a fat 2nd quarter loss, Morgan Stanley has advised its clients to sell into the transitory rallys per a bloomberg report best, surf
Surf and his bearish posts/calls. Are you ever right? Let me know when you go from bearish to bullish, will be the top.
I believe that they said ( months ago ) that this rally would fade and that they would aggressively advise their clients to sell into it. (you can find a thread about their horrendous call somewhere around here) That was about 150 S&P points ago.
Yawn, http://elitetrader.com/vb/showthrea...76&perpage=6&highlight=prescient&pagenumber=1 They must be hurting on that original call.
They also recommended that you buy puts on AAPL just before earnings. Nothing like telling the public to get crushed on implied volatility. When are people going to learn? It doesn't matter how big the firm is. You just can't listen. "Will you do your own homework Marv?"
I can't believe anyone still takes a word these big brokerages seriously. They all managed to run themselves into the ground and almost destroy our entire country. Its like listening to a guy who is divorced 4 times give advice on marriage.