After rise in Asian markets, we were expecting European markets also to follow the same trends, but no, European markets which are more mature than us, knows the fact that there is no point continuing this rally in spite of thousands of bad news around and weak earnings outlook of companies.
There were many rate-cuts from FED before, not even a single one were able to solve this crisis, is there any reason why one should expect this rate cut of 75bps will solve the problem? This is ridiculous yaar; all optimism will die out soon!!!
These are some events in US on Dec 15th...Except one all are indicating towards weak US openings.
FOMC Meeting Begins = Positive Signal
Empire State Mfg Survey = Negative Signal
Industrial Production = Negative Signal
Housing Market Index = Negative Signal
What Next? – Direction is still not clear; one must wait till tomorrow to get better clarity. Let’s sit with the current positions whatever one has now; we don’t see any reason why anyone should expose fresh LONG/SHORT positions today.
Sandeep Jain, Associate, HBJ Capital
Note: Pls read the disclaimer on this site. Investors/ traders should do their due diligence before taking any action based on our analysis.
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