Value Plays in Equity Markets Help Support Euro Rally

By James A. Hyerczyk
13 November 2008 @ 06:50 pm EDT

While yesterday's word of the day was aversion, today the word for investors was value. Global equity traders snapped up cheap shares of energy-related shares on Thursday triggering a huge short-covering rally in stocks which whet the risk appetite of a few traders. I will not say that the appetite for risk is strong at this time as that will not be known until the trend in equities actually changes to up, but nonetheless, even bearish traders have to eat sometime. Let’s hope that Thursday's rally was just an appetizer before the main meal.

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