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Fusion Research - Equity Market Review - February 7 2013 (1)

Fusion Research - Equity Market Review - February 7 2013 (1)

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Published by: caitlynharvey on Feb 07, 2013
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02/12/2013

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Equity
 
Market
 
Review
2/7/2013
" ", . ,"publisher's exclusion" from the definition of "investment adviser" as provided under Section 202(a)(11) of the Investment Advisers Act of 1940 and corresponding state securities laws. The sitecontent and services offered thereon are bona fide publications of general and regular circulation offering impersonalized investment
related information to users and/or prospective users(e.g., not tailored to the specific investment needs of current and/or prospective users). To the extent any of the content conveyed in Strategy Session is as part of the site or services offeredthereon may not be deemed to be investment advice, such information is impersonal and not tailored to the investment needs of any specific person. Any information in FusionIQ’s Strategysession is for informational purposes only – please consult your investment advisor before making any investment decisions
 
ummary
 
ommen s
Below we examine current market conditions.
Majority opinion is calling for a correction or using the industry’smost over used term, “overbought.
The current street banter seems to center on the theme equities are, . ,significant correction when everyone is talking about how “overbought” the market is or how stocks are way “tooextended.We find it hard to believe that after hiding under a rock for nearly five years, that a few months of equityinflows means investors have gone from petrified to exuberant. That process in our opinion is a longer arc, not asingular event. While clearly markets can and will have pullbacks. We think the overbought chatter comes from
.As evidence to refute these claims of speculation, we look at historical mean allocations to equities. Currently equityallocations, are still below their 26 year mean of 60 %. If investors are giddy, and speculation is rampant we wonder,how can allocations to equities be below their mean ? A corrective wave will come at some point, maybe brought on. . , ,as is presently the case, it typically doesn’t come. Hence the phrase the market rewards the minority and confoundsthe majority.Market internals remains strong, and robust fund flows into equities suggest the liquidity back drop will remainsuppor ve o equ es. ona y we expec e ro a on away rom xe ncome n o equ es, w eep aunder the market for stocks, thus we remain constructive on the markets at present – even if we are overbought !!
 
Quote of the Day …
The way we look at it if you are constantly prepared and reviewing your 
Returns
 
following
 
seasonal
 
pattern.
 
The
 
Month
 
of 
 
May
 
continues
 
of a concern.
to
 
be
 
sticky
.
“By 
 
 failing
 
to
 
 prepare,
 
you
 
are
 
” 
 
Ben
 
Franklin

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