| STRATEGIST: 'I find it impossible to look at these moves and want to take significant risk' | |
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(REUTERS/Cristobal Saavedra )
Markets are rocky.
And in a morning note on Tuesday, Peter Tchir, a strategist at Brean Capital, writes that nothing in markets looks particularly stable or particularly attractive right now.
"I find it impossible to look at these moves and want to take significant risk (long or short)," Tchir writes.
In his note, Tchir highlights some of the biggest moves we've seen in global markets over the past 48 hours, noting that Chinese stocks in trade on Tuesday rose 11% from their overnight lows after dropping 20% in just two weeks.
Among other wild moves on Monday was a more than 12-point drop — or 25% — in Greek bonds, while Puerto Rico bonds "outperformed" by dropping "just" 11% on Monday.
In short, a wild day. And the problem, as Tchir sees it, is that these moves are all more or less disconnected. "It isn't 'just' Greece that we need to watch out for," Tchir writes. "There is danger on many sides, none having anything to do with anything else. The 'attack' on risk is coming from unusual places."
Tchir adds that while US futures and Treasurys are higher Tuesday morning, he would view any "bounce" as a chance to sell or simply stay uninvolved.
"I remain in risk-off mode," Tchir writes, "which makes me wrong for the moment, but with this level of volatility, that can change dramatically and in a hurry."
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Stellar Pacific Ventures Inc.
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Stellar Pacific est une société d’exploration minière d'or et de cuivre basée au Canada. Stellar Pacific détient divers projets d'exploration au Canada et en Guinee. Ses principaux projets en exploration sont HEVA, MONSTER LAKE et VASSAN au Canada et BALANDOUGOU GUINEA en Guinee. Stellar Pacific est cotée au Canada. Sa capitalisation boursière aujourd'hui est 240 641 CA$ (175 562 US$, 163 992 €). La valeur de son action a atteint son plus haut niveau récent le 18 février 2011 à 0,95 CA$, et son plus bas niveau récent le 24 avril 2024 à 0,01 CA$. Stellar Pacific possède 24 064 050 actions en circulation. |