The Traderszone Network

Here’s a quickie; Goldman Sachs says Brexit is still on track; Staying short sterling
This is via eFX

President Donald Trump wasted little time applauding a stock-market rally that has taken the Dow Jones Industrial Average to the rarefied air of 20,000.
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Trump Hotels has signed 17 letters of intent with potential owners for its new Scion hotel brand, the Trump Organization’s first line of hotels that don’t bear the president’s name, the company’s chief executive told The Wall Street Journal.
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A sombre piece in the Nikkei for morning reading on the way to work in Japan today:
Even that updated forecast may be too optimistic …
the government is basing its primary balance outlook on the most optimistic economic growth forecasts

With the recent performance of the S&P, in which there has not been even a single 1% drawdown since the election, not only is complacency raging but some traders have forgotten what it even means to experience a modest 5% correction, let alone a 20% bear market. How much longer can this go on?

For the answer, we turned to a recent report by InvesTech, according to which as the table below shows, a 5% correction has occurred about once every seven months in an ongoing bull market.

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WeWork added hundreds of thousands of square feet worth of new Manhattan leases in 2016, but the tenant du jour is still knocking on the door outside the borough’s Big 10 club. The $16.9 billion startup signed its share of big deals last year, including a lease for 122,000 square feet at 2 Herald Square and 100,000 square feet worth of leases at 135 East 57th Street. But with 2.1 million square feet occupied in … [more]

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For long stretches of time, the Dow has outperformed the S&P 500, a nearly unprecedented accomplishment for an active fund.
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