While conflicting market signals continue to cloud the macro picture, we do feel that the recent data goes some way towards undermining the case for a “double dip”.
Conflicting economic indicators, along with market signals that could easily be characterized as schizophrenic, make it tough to take a firm stand on whether the glass right now is really half full or half empty. While Derastone has a long-term positive outlook, we are using this time period only to add risk at the bottom of current ranges, pending a clear indication that trading ranges have been broken. It may be that the price levels of the major asset classes (credit markets, commodities) which appear to be influencing equities, will lead the change in perceived fundamentals.
The positive side continues to be the same, with Emerging Markets
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