IIFT Daily Note with Peter Brown

A quiet start to the week.

Posted by:  |  Time: 7:45 am  |  Topic:  |  Comments: 4
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Markets settled down nicely yesterday after last weeks crazy trading. Partly due to the part holiday in the US and the lack of any news. More of the same today is expected. Tight trading ranges. There is no big story so I expect the market to settle down for the week. Rang trading is in order and expectations should be reduced. Tech. Analysis will be important and patience to enter at good value.

Levels are Euro  1.3440  1.3350  S&P (DEC) 1770  1763   Wall St (DFB) 15825  15725

4 Comments

Terry Pierce

November 12, 2013

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Peter,

Do you see this market continuing on this bull run for the short/medium term? In terms of finding good values do you fell that there is still scope for valuable upside or woudl you be waiting for a deeper correction?

Peter Brown

November 12, 2013

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Hi Terry,

The market is lower as I write. I see the market supported in the medium term (months)
New highs will be hard to get due to the time of year. If we get tapering or expected tapering we may correct. This will be a buying opportunity I think.
Unless a big story emerges we may range for a few weeks.

Peter

Terry Pierce

November 12, 2013

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Peter,

Thanks for the above. I agree it looks as though both the ECB and the FED will maintain their aggressive stance in an effort to stimulate both economies in the short term. Do you think the prospective of tapering in December / January may erode the likelihood a the typical ‘Santa Claus Rally’?

Peter Brown

November 12, 2013

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Hi Terry,

Yes I think the Santa Clause rally is unlikely. Too many fund managers up a lot of money.
May take profit before Chriatmas. This will temper the upside.

Peter