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BN 02/10 00:00 Birinyi Sees S&P 500 at 1,900 by July as Shorts Sit Out 6% Drop
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Birinyi Sees S&P 500 at 1,900 by July as Shorts Sit Out 6% Drop 2014-02-10 02:18:32.944 GMT
By Nick Taborek and Callie Bost Feb. 10 (Bloomberg) -- U.S. stocks have too much momentum to make betting against the S&P 500 Index a winning strategy, the gauge will probably reach 1,900 next qtr, according to money manager Laszlo Birinyi. * Birinyi said in a phone interview Feb. 7 that the benchmark gauge for U.S. equities will increase almost 6% by July * It fell 5.8% in the 3 wks staring Jan. 15, losses he said signal healthy skepticism that set the stage for more gains Full Story: NSN N0R0R86JTSE9<GO>
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To contact the reporter on this story: Sarah Gill in sydney at +61-2-9777-8641 or sgill23@bloomberg.net
To contact the editor responsible for this story: Jan Dahinten at +65-6212-1164 or jdahinten@bloomberg.net