Founders Note: CPI Prep
Whispers of a big downside miss
Expectations
Goldman, JPM trade grids
Some notes on MS view
GS, JPM, MS, DB pdf
The street is prepping for another big downside miss as the Morgan Stanley view is catching on (see below)
Bottom line:
The consensus is X
The aggressive positioning consensus is lower than X and therefore bullish stocks
What remains to be seen is if the number misses very low, how much buying is left to get stocks up
If the number misses high…. assume at least a knee jerk reaction lower from the aggressive and wrong hot money