"Omega-Trading"- Europe, Jobs and Consumers Weigh On Markets...
"Omega-Trading" on the aimless drift of global markets in the wake of negative news flow.
Online, June 30, 2010 (Newswire.com) - "Omega-Trading" dealers are thought to expect markets to trade lower as less-than-stellar economic data out of the US and continued worries over the European debt crisis weigh on investor sentiment.
According to "Omega-Trading" analysts, markets have reached the point where only "game changing" round of economic data can help propel indices higher at a time when all the evidence appears to point to an abrupt stall in the progress of the economic recovery in the developed world.
The firm is convinced that poor US payrolls, consumer spending and lackluster housing starts figures combined with increasing worries that Spain may be the next European state to tap the EU/IMF bailout fund will turn investors negative in the days and weeks ahead.
The firm points to lack of volume in trading in equities and suggests that equities may fall through support levels very sharply.
"Omega-Trading" believes, however, that falls will be short-lived with so much money sitting on the sidelines waiting to snap up stocks at cheap valuations. Indeed, the firm has told clients to be prepared to buy stocks of selected corporates on its conviction buy lists with a view to holding for the medium-term.
"Omega-Trading" is still telling investors to acquire precious metals on price dips rather than at record highs.