For what has felt like a bad year thus far for the local market, it is still only down 7% for the year with most of the drop occurring during the month of October.  Part of me thinks there will be a year end rally to narrow the loss into the end of the year…I can see upside risks coming from…less news re trade wars with China, less political issues coming from the US post their mid-term elections, the USD strengthening to pause and/or perhaps retrace. Wouldn’t be surprised to see the market race past 1,700, then again for that oil needs to remain lofty which I doubt will happen.

  1. peter satrapa-binder

    regarding oil maybe not staying lofty: who knows, what with the iran sanctions starting to go into effect and maybe iran really trying to at least hinder oil shipping through the starit of hormuz (they won’t be able to stop it, though). i rather believe that oil prices will stay lofty for a while to come and maybe get even loftier, at least in the short term…

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