Global stocks rally but when will the “jitters” go away?
Yes, the week is coming to an end and it will be a good end (With US stocks up 1%-1.5%) as Apple and Oil rallied, so expect a “much needed” rebound….
It has been a tough week for equities, with global markets “shaken” by volatility leading into to the US Fed meeting on Wednesday next week.
Resource & Oil stocks have also been “punished” this week, as a strengthening USD hurts momentum but we should see some buying in these sectors today.
Consumer Staples and Infrastructure stocks should also outperform today, leading into the weekend.
Have you noticed that when oil rallies (last night +0.76%), equities tend to follow?
Despite the market “jitters”, PEAK Opportunity has had a good week with PAR, LPI, EMC and SW1“breaking out” to all-time highs….
Strong momentum should see it move higher…
Keep a look out for our next Peak Opportunity going live next week…
Today, we’re in Wilsons Prom, getting some “much-needed” fresh air and going hiking for the day before the Hawks vs. Bulldogs match.
Life is short and yes, making money is fun, but there’s nothing quite like going to the great outdoors, recharging the batteries and watching the world go by….
The SPI is up 33 points this morning
Niv Dagan is an Executive Director of Melbourne based boutique funds management and corporate advisory firm, Peak Asset Management (www.peakassetmanagement.com.au). He is also a regular financial commentator on Sky Business