We’ve heard of Black Friday, Black Monday… Black Thursday. Sum it all and we have a ‘Black Week’.
The Europe and US markets continued its downtrend yesterday. The latest trigger adding to insult is about the fears of the French banking’s sector exposure spilling over to US banks.
From my last post, I mentioned that the timing is ‘almost’ ripe to reap and take advantage when fear and capitulation takes centre stage. However, with this new event the harvest is delayed as the financial climate takes another turn.
The relief rally we saw on Tuesday in the US and following Asia on Wednesday is not considered a ‘bull trap’. I hope the following clarifies. We have known all along that global growth is a concern. It had been there for at least 1-2 months prior to Black Friday. However, there wasn’t a trigger.
Subsequently, the trigger that ‘woke up’ the ...
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