Wall Street's Biggest Bear Admits Defeat: "The Bear Market Is Officially Over... New Bull Market Has Legs"

What a difference a momentum-driven breakout makes. For much of the past year, Bank of America's Savita Subramanian was one of Wall Street's biggest bears. All that changed two weeks ago when, after the S&P broke out above 4,200, Savita - drawing too much heat from angry clients who were kept out of the bull market - finally capitulated, and raised her S&P Price Target to 4,300, while still preserving some of her legacy skepticism.

Not any more.