Credit Suisse Trims S&P Target: Another Sell in May and Go Away! (CS, SPY, PPH)

Today’s quote is hard to take as positive considering that it says that the S&P could run down to 1,000 into a breakup of the Euro.  The crux of the report noted, “Although most risk indicators are neutral (sentiment, risk appetite, insider buying) we think on a 3- to 12-month view equities still have the best risk-reward trade-off among the major asset classes – we stay overweight.”

As far as sectors, Credit Suisse calls on the ‘dollar earners’ and is overweight drugs and the key pharma ETF is Market Vectors Pharmaceutical ETF (AMEX: PPH) but that ETF was not mentioned in the Credit Suisse call.

JON C. OGG