If you think I am some sort of super nutty moron just spouting gloom and despair, check this article out. You won't read or hear this on CNBS or any of Rupert's fine venues of truth. Enjoy the rally while it lasts - but expect to take a sucker punch is a nice little piece that Tyler has buried in a little side note on Zero Hedge.
"Teun Draaisma, Morgan Stanley's stock guru, expects another shake-out. "We think the bear market rally will end sooner rather than later. None of our signposts of the next bull market has flashed green yet. We're not convinced the banking system has been fully fixed," he said." and "There is at least one more boil to lance before we put this debt debacle behind us. The IMF says eurozone banks have so far written down a fifth of likely losses ($750bn) compared to half for US banks. They must raise $375bn in fresh capital. Good luck."
UPDATE: Erik got me pointed in the right direction and I thought I'd drag this one in from the Pragmatic Capitalist - A 50% SELL-OFF COMING? is a nice post that brings in an article from Barron's where Feliz Zulauf expects a 50% decline. Now, I'm not going that deep just yet - maybe the initial pullback to something in the SPX 800 range.
It goes on mentioning other fine attributes of this recovery that are less than appetizing. Just thought I would throw this out there so you did not think I was totally nuts.