Hartnett: Selling Panic Flips To Year-End Greed

Three weeks ago, when stocks were about to slide to the lowest level in five months, and when Wall Street's echo chamber of consensus-seeking penguins just flip-flopped back to ultra bearish, BofA's Michael Hartnett - who had been bearish for much of 2023 and who correctly advised his clients to sell the last rate hike in July which top-ticked the S&P for 2023...

... turned "tactically" bullish when he noted that a "buy signal was just triggered" as a result of Wall Street's mood turning extremely sour (and culminating with hedge funds shorting single name stocks for a record 14 consecutive weeks); that this happened just as another noted Wall Street strategist - Morgan Stanley's Michael Wilson - took the opposite view and said to "Forget About The Year-End Rally" doubling down on his infamous bearishness (alongside JPMorgan's Marko Kolanovic), would finally decide who has been right and who was wrong in 2023.