Quote:
Originally Posted by Rev
Ultra short ETF's doing well anyone else taking a glance?
I'm thinking 7000 DOW and shorting C (in addition GM/F) or put options to be safer
|
DUG and DOG various ultrashorts did well today!
7,000 here we come. Maybe even 6,500 at this point!
Freaking CIBCs' Jeff RUBIN's ALWAYS wrong. Everytime he says something, go the other way! (ie. oil $200)
Quote:
Markets set to turn corner, Jeff Rubin says
Markets have bled red since September but aggressive moves from central banks and governments to stabilize the financial system may mean equities have reached a bottom, a new report from CIBC World Markets said Tuesday.
"We are cautiously optimistic that we can ride out the balance of the year without any further systemic shocks," said Jeff Rubin, chief economist at CIBC World Markets. In the report, he predicts the Toronto Stock Exchange will close the year at 9,500, and end 2009 at 12,000.
Mr. Rubin notes the colossal government cash injections, such as China's new fiscal stimulus package and another round of stimulus expected from the United States as stabilizing factors. The thawing of interbank lending since the middle of October is also further "easing financial strains," he said.
Yet the "building blocks" for a sustained rally are still not firmly in place. "With credit and liquidity fears abating somewhat, concern is rapidly shifting to one of the other key factors clouding prospects for a heavily resource weighted TSX: the troubled global economy," Mr. Rubin said.
The extent of the downturn isn't fully realized in emerging economies yet, but there "is little doubt" that as a whole, OECD nations are in "outright" recession.
Until sentiment towards the U.S. and other key economies improves, the market will remain "well-below" its recent highs, Mr. Rubin said, noting that on average, it has taken Canadian equities about three years to fully recover from a bear market.
|