11:51
Unknown
Jobs report which was way below estimate, pushes interest rate hike, further down the road, who knows, could be next year.
British Pound pounding has created new turmoil for hedge funds, who loves to bet big on currencies, we may have been impacted by sudden slump, wrong side bets are generally covered with gains in equity.
GDP growth worldwide is ticking UP, India and China are in 7.5% and 6.5% camp.
US$ strength have crushed commodities and currencies, Canadian $ has been crushed to new 11 month low.
Gold & Silver are struggling big time......
Oil is looking much better despite US$ strength, $50 now, maybe $60 in New year.....
Q3 earnings are ready to roll this week with AA.....as usual there is lot of anxiety, most traders are worried about missing consensus, but in the end, 70% should beat estimate.
Fed officials are in overdrive making prediction about interest rates, which has not panned out, but they do not give up their faulty position.
There is a general calm around the world in economic activity vs many anxieties before.
US interest rate being low is a good driving force for equities making series of new highs.
Strong acting stocks will do well in beating estimates, i may join "earnings play" as last quarter.
This spell of weak stock movement, should be taken as a time to buy and accumulate.
Q4 is a good from seasonality point of view, strongest quarter of the year.
RSI is extremely reasonable even for strong Nasdaq @ 53.64, weakest being S&P 500 @ 48.13.
SOX RSI is strongest @ 65.58, thanks to NXPI and its potential linkage with QCOM.
SO....all in all, a very favorable environment for a surge in equity prices. Exposure needs to be high in high comfort stocks, where earnings are on a roll, AMZN, GOOG, FB to name a few.
Good luck with your own strategy and comfort level.
BLOG does NOT give buy or sell.
Saleem
Posted in: Mixed
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