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Strong Quarterly numbers from JP Morgan and Intel lifted the spirits of investors on Wall Street sending Dow Jones higher by 100 points over the previous close to end at a 19 month high. The bull run started in March 2009, from the debris continues unabated.
While caution is the buzzword everywhere, many of the retail investors were left out in the current rally. Speculator/Operator activity is on a high and is likely to continue for some more time..We recommend investors to remind the popular phrase "Sell in May and go away". Valuations are no doubt stretched and stockmarkets need a cool off.
Given the current strength in cheap dollars driven rally, it is out of one's imagination how and when the correction would hit. While raising interest rates in the US is likely to be one key trigger, Chinese GDP has outperformed expectations and too much growth too early is definitely not what any central bank wants...Watch out for interest rate jitters in the next one month..
Indian economy is growing leaps and bounds but needs a cool off too before the next take off...Raising like a phoenix is dangerous in terms of technicals. V-Shaped economic recoveries ideally lack sustainability.
Stocks to watch today : FSL, Kohinoor Foods