Morgan Stanley: Sell Stocks Following Best S&P 500 Rally Since 1938

04/30/2009 05:12 am ET | Updated May 25, 2011
  • Nick Baker bloomberg.com

March 30 (Bloomberg) -- Investors should sell U.S. stocks following the steepest rally since the 1930s because earnings are likely to keep weakening, according to Morgan Stanley.

The Standard & Poor's 500 Index advanced 21 percent in the past 14 trading days, the most since 1938, according to data compiled by New York-based S&P analyst Howard Silverblatt. It closed at 815.94 last week, rebounding from the 12-year low of 676.53 reached on March 9.

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