By Hal M. Bundrick
NEW YORK (
)--What has to be one of the most stunning Wall Street analyst notes in some time was posted by Oppenheimer Chief Market Technician Carter Worth today. It read simply: "We have no new thoughts. Sell."
Joshua Brown, a New York City-based investment advisor who blogs at
called the piece: "Greatest. Research. Note. Ever."
Here is what the research report looked like, as posted by the blog, with the note "Here's the instant classic morning research note that Oppenheimer clients got from Chief Technician Carter Worth before the open today:"
Worth has been predicting a continued pull-back for U.S. equities for some time. According to CNBC's website, as recently as last Thursday Worth said that his technical analysis provided the case for the stock market to head 3 to 5% lower.
"Once you're down more than 5 percent, history shows you don't stop there," he told Fast Money. "You typically go down quite a bit more."
--Written by Hal M. Bundrick