Equity Strategy: the theme continues today, cyclicals on the back-burner while commodity-related re-enters the party. Intraday, short transports/long oil drillers should continue to yield well on further profit-taking and impact of higher oil prices. Semis/hardware selling off heavily in early trade but considering the recent run-up, there's plenty to chip away at.
Equity Strategy: broader market declining as Bush gives speech. Likely to be a non-event but a negative tone has already entered the market. Housing stocks down more than 2 pct. today, an indication of the data released tomorrow and Wednesday? In Europe, DAX falling toward the lows this morning, 5770 should again give good support.
Enviado: 21/8/2006 15:26