We remain positive on equities but it might be time to take money off the table in the most straightforward (cyclical) sectors.
More Quotes from Patrik Schowitz:
If you look at what's performing today in Germany it's DaimlerChrysler as it looks like they are restructuring at a faster pace than the market expected, and this is precisely what the story is about for markets. Companies around Europe are restructuring, particularly in Germany, so forget who won the election, restructuring and reforms will continue to take place no matter which government is appointed, maybe not as quickly as thought, but still they are happening.Patrik Schowitz
If there had been a proper decision to go to war last night then there would have been a drop in risk aversion but instead we are still stumbling in the dark.
Patrik Schowitz
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