Unclear Risk…

(Daily Alts) For the past three months the market has shifted into a ‘Risk On’ position, and last week showed no abatement of the trend, even with the wrench of earnings thrown in. If anything, earnings of more predictable earners led to selling, while ugly earnings led to buying. It was a very bizarre week especially with the ‘no agreement’ in Doha leading to a surge in energy prices; few saw that one coming. Weak economic data kept thoughts of immediate Fed action on hold while the bulk of us spent our time nose down in earnings releases. There were some significant earnings movers as a result of their releases and comments last week…

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