Sorry, I Am NOT Buying Equities Right Now

I open another research report, from Morgan Stanley this time "Strong Earnings Momentum to Drive Further Upside for Metals & Mining", with an appealing summary. Click to enlarge, courtesy of Morgan Stanley.

That comes on top of the latest Global Strategy Weekly by Nomura, which is simply telling that "Good Q2 suggests good H2 too".

But I am not buying equities right now. Just riding the existing longs. Current technical conditions suggest this is not the best time to buy - there should be better opportunities in the future, if any ...


The fundamentals for US consumption are shadowed by debt and employment concerns, there are deflationary signs in China too. But Chinese Communist Party may be preparing for a blow...