Blog

When asked about the breakout to new highs occurring in summer Davies stated, “This has the smell of 1998 when I was trading US government bonds and everyone was away on holiday and problems were beginning to brew.  Stock markets were beginning to get violent in reaction to Russia’s problems and it all kicked off in the summer months and people were being called back to their desks.  

 I just have that same kind of feeling now.  This is not one I want to fight, the market is a little bit rich now in the short-term, but this could be the baby that takes us over the course of the next four months to that very tantalizing level above $2,000.  I really think this is the move.”