The ASX, S&P and Euro markets are overbought short-term, but dips are bought straight away. It's no place for shorts in any convincing size, especially if US earnings are potentially showing signs of cyclical sales growth. Markets higher into the end of the year on stimulus assistance, but will need solid global growth once Fed taper in March. Longer-term bullish, with risks...the great thing about being a trader is I can change my bias if price dictates!
Chris joined IG as a sales trader in 2006, having worked previously at Morgan Stanley, Credit Suisse and Merrill Lynch, gaining exposure to both equity and fixed income trading. After accruing 15 years' experience in financial markets, Chris...
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When you have many pinning their hopes purely on 'Santa Claus' you have to be somewhat cautious after the run we've had.
The market is thinking we could see the cylically focused stocks actually record sales growth of 5%, which could mark and inflection point..its not just financials
For sure. going to be taking more cab rides to gauge a sense if I should pile into shorts!!
Comments earlier today about waiting for earnings to pick up resonate strongly with me. The asset price inflation on the back of govt stimulus makes me pretty nervous, especially when majority of people seem to be bullish. I may be sitting this one out for the moment...