Buy-the-dippers, take note: Wall Street’s most notorious bear sees a stock rally coming

Reuters

Growth stocks drag Nasdaq lower, energy shares bounce

The Nasdaq Composite index fell by midday trading on Monday, dragged down by high-growth stocks as last week’s rally on easing concerns over inflation lost steam, while recovering oil prices boosted shares of energy firms. “We had a nice rally last week, so I think we’re seeing a little bit of profit taking this morning,” said Dennis Dick, a proprietary trader at Bright Trading LLC in Las Vegas. The tech-heavy Nasdaq Composite index, which gained 7.5% last week, fell 0.3%, the only decliner among the three major indexes.