Surprised to notice how quick the opinions have changed especially his, he is very quick to point out that economy is not as bad as everyone suggests. Markets sell off for 2-3 weeks and the bottom for the year is in, how great is that!!!! He is SOOO positive that he actually predicts that for the second half of 2010 that GDP will be up a whole 1%, ha. The markets will get a bounce but long term this market is headed down a lot further. Kass: Market Has Made Low For Year CNBC.com | July 06, 2010 | 06:15 PM EDT He's a celebrated bear, so when Doug Kass of Seabreeze says the market has made it's low for the year, we listen. After travelling a "path of fear" markets have dramatically disconnected from fundamentals, Kass says on Tuesday's Fast Money.Kass thinks investors are missing a slew of signs all of which suggest the economy isn't nearly as bad as the price action in the S&P suggests. When you go beneath the surface of employment data and manufacturing numbers Kass sees strength. "If you look at the June ISM non-manufacturing index," he says, "the employment component dropped only marginally and is consistent with respectable payroll growth. And the employment trend index was up for the 11th straight month in a row and it always leads payroll growth. The index is up 5 points above it's long term average."On top of that, "high yield bond rates were down, 2-year swap spreads were down, 3-month LIBOR was down and the euro was up." All positive signs, Kass says. In fact, Kass is so positive he predicts GDP in the second half of the year will likely be up over 1%. And to top it all off, he says market indicators are off the charts in terms of stocks being oversold.What's the trade?In anticipation of a snap-back in the second-half, Kass recommends taking a look at the technology sector [ XLK 20.49 +0.20 (+0.99%) ]. Always go with technology for beta, he says. What's the bottom line?"We have reached a yearly low for the market for the year," he concludes. "This business is going to be fun again and it's going to happen sooner than most people think."