{"id":308900,"date":"2010-02-11T12:43:00","date_gmt":"2010-02-11T17:43:00","guid":{"rendered":"e2249889-c78b-43e3-9643-b1d7d4aa587b:394669"},"modified":"2010-02-11T12:43:00","modified_gmt":"2010-02-11T17:43:00","slug":"more-downside-before-rally-resumes","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/308900","title":{"rendered":"More downside before rally resumes"},"content":{"rendered":"<p>The bad news, says Vincent Delisle, Scotia Capital Markets strategist, is that U.S. equity markets may fall another 5% before the current correction ends. The good news is that he expects the S&amp;P 500 to still hit 1,200 by year&#39;s end, representing upside of 15%. <\/p>\n<p>&quot;It is important to keep in mind that fundamentals are still supportive,&quot; Mr. Delisle said in a note to clients. <\/p>\n<p>&quot;Earnings are picking up with top-line growth now contributing, the latest ISM\/global PMI readings were strong, CISCO provided some highly supportive comments last week indicating that business spending was back, and the U.S. economy is poised to print positive payrolls data late Q1\/early Q2. In addition, forward P\/E&#39;s have backed down to 13.5x.&quot;<\/p>\n<p>While equities continue to look more attractive than bonds, Mr. Delisle reiterated his plan to take risk off the table in 2010.<\/p>\n<p>For the time being, he is focused on mid-to-late cycle sectors, including Industrials, Cable\/Media, Technology, Large Cap Oil, Fertilizers, and Insurance.<\/p>\n<p><a href=\"mailto:dpett@nationalpost.com%20\">David Pett<\/a><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/network.nationalpost.com\/NP\/aggbug.aspx?PostID=394669\" width=\"1\" height=\"1\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The bad news, says Vincent Delisle, Scotia Capital Markets strategist, is that U.S. equity markets may fall another 5% before the current correction ends. The good news is that he expects the S&amp;P 500 to still hit 1,200 by year&#39;s end, representing upside of 15%. &quot;It is important to keep in mind that fundamentals are [&hellip;]<\/p>\n","protected":false},"author":4060,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-308900","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/308900","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/4060"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=308900"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/308900\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=308900"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=308900"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=308900"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}