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“Sell Your Stocks Now” says Kim Husebye of Lakeshore Securities

Kim Husebye of Lakeshore Securities

Kim Husebye Lakeshore Securities

In early December 2009, I had the pleasure of interviewing Kim Husebye, investment advisor and portfolio manager with Lakeshore Securities. In that interview, Kim characterized the direction of the stock, which at the time was in an uptrend, as a counter-trend move. More specifically, he identified the rally as Primary Wave 2, in Elliot Wave Theory terms. Primary wave 2′s usually involve a 50% retracement of the initial move in wave 1 (which bottomed at around 660), thereby providing cause to Kim to pinpoint a target for the S&P 500 at 1121.

While the counter trend move in the S&P 500 overshot Kim’s target by 29 points to hit 1150, current market indications lead Kim to re-affirm his 12 month target for the S&P 500, which is below 500. I have attached a PDF copy of Kim’s most recent market commentary below. It’s contrarian to say the least.

Time to Sell Your Stocks - Kim Husebye

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