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Equity & Quant Strategist at BAML, Savita Subramanian, issued a report titled Wall St. Proclaims the Death of Equities. The report discusses the firm’s proprietary sell-side indicator, which has reached near record levels of bearishness, which is of course bullish for stocks. It should be noted that the indicator’s focus is equity allocation: It “is based on the average recommended equity allocation of Wall Street strategists as of the last business day of each month. We have found that Wall Street’s consensus equity allocation has historically been a reliable contrary indicator.” From the bigpicture.com 7/2/12