I've been watching global equity markets tracking up in the last few days and I just want to make a quick observation before investors start getting too excited about a stock market rebound....
WINDOWDRESSING....
It's the end of the final quarter and its been a brutal time for investment managers who have enjoyed years of success and mega bonuses in December... Now that habit has been tipped on its head and suddenly the losses are mounting.
While managers deny the habit, most traders will point out that end of the quarters (particularly around December when volumes are thin), fund managers will try and nurse their performance figure by buying up equities...
My little piece of advice - don't buy a trend on the last few days of trading - the same problems still exist....
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