IIFT Daily Note with Peter Brown

New highs as equities soar.

Posted by:  |  Time: 7:46 am  |  Topic:
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Market soared on Friday. Basically there is no bad news around and in the low interest rate conditions that means stocks rally. Tapering or no tapering the market is in a feeding frenzy. Hard to get in the way of these moves and it is better to ride the rally. How far we will go is anybody’s guess but unless we see some bad news from left field or indeed a surprise start to tapering, we are going to go higher.

All the risk trades are off, Gold looks like it is heading for 1180

Levels today are Euro 1.3580  1.3515 S&P (DEC) 1810  1800  Wall St (DFB) 16135  16060

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