Friday 29 October 2010
Where was the September/October market crash?
Here we are, October is done as a trading month. Through September and October the FTSE and US markets have continued a rally. it has weakened alot this month but nonetheless the momentum is still upwards. All the dips are getting bought out.
Yet most market commentators were predicting a big sell-off; I feared one given I am 100% long on investments. Next week perhaps with Obama taking a pasting we may see the beginnings of a sell-off - or maybe not?
The UK markets have even got past the will-she won't-she Bank of England decision of Quantitative Easing. In the US they are waiting to see how much more money Bernanke is going to print. To my mind this it the real backstop of the markets at the moment - the realisation more money printing and so future inflation is in on the horizon.