Good Afternoon ,
Well little to be said today , a straightforward rout…
Smurfit figs were ok , but as I argued earlier it is also an outperforming play on the continuation of the recovery. Markets have got very squamish about this in the last few days and after weeks and weeks of shaking of worries about the sovereign debt issue , the markets are now looking at a possible spread of the contagion with multiple other countries now being mentioned as having very strained fiscal positions and high debt levels so a very worrying scenario is now front and centre.
With my screens oozing with blood red colours and stocks like Smufit down -7% suggesting that the short term trade idea of locking in the outperformance was heeded by at least some today
And by the way ,,,,
Have a good weekend.
liam
___________________________________________
Liam Boggan
Merrion Stockbrokers
Tel.: 353-1-2404171
Mob:353-87-2313505
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