There were plenty of 'no one could have predicted this' remarks when the index hit an all time high today.
And yet, plenty of the big players have indeed been doing so.
As a reminder of end of year targets, and these have been in place for months not in response to today's moves:
- GS are at 3600
- JP Morgan are not too far behind at 3400
- Morgan Stanley at 3350
Do bear in mind these are not guys (and gals) sitting in front of screens at home in their undies with a couple of charts open (like, um, me). Big teams, seeing lots of flows, and deriving information from such. At the very least its worth considering their perspective. "No one could have predicted this" does not cut it.
