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Analyst and Strategists Get More Bullish

Going into the retail sales reports today, retail analysts were raising estimates for third quarter sales (remember many retailers have quarters that end in October).

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Now strategists are joining them. This week, many strategists have also been sounding more bullish, as Laszlo Birinyi noted recently.

B of A/Merrill Lynch, for example, said: "Purchase stocks on pullbacks, this rally hardly seems overdone, S&P to rise to 1,200 in 12 months."

Goldman Sachs: "Buy US companies with BRIC [Brazil, Russia, India, China] sales, they will outperform the market as Q3 revenue tops estimates."

JP Morgan: "S&P 500 may easily top 1,100 in the next three months, rehabilitation of a lot of segments in the economy could be much faster, especially corporate profits."

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