Market bear sees new US lows

NEW YORK: US stocks are likely to undercut their October lows in the coming months and investors should brace themselves for a rare Wall Street phenomenon – a fourth down year in a row – says one of the market’s grizzliest stock bears. 

Fred Hickey, who publishes the highly regarded investment newsletter The High-Tech Strategist, said the market advance from five- or six-year lows hit in October 2002 would go the way of several similar runs since early 2000.