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Husebye: A Contrarian's View of the Markets

Nov 19, 2009 - 5:51 PM EST

Arjun Rudra submits:

With the S&P 500 failing to close above its 50% retracement from its 666 low and oil failing to break above 80.40/50 even after receiving the news of the 0.9 million drawdown in EIA crude inventories, the markets may be setting up for a significant decline.

Did Warren Buffett get it wrong when he said his acquisition of Burlington Northern Santa Fe (BNI) was a "bet on the country"? I do not know the answer to that question; I guess history will tell. However, if one is a a contrarian, one should certainly hear the views of Kim Husebye, VP and Portoflio Manager at Lakeshore Securities.

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Source: Seeking Alpha (Nov 19, 2009 - 5:51 PM EST)