'Full House' Buy Signal for European Equities

European equities got a boost this morning following bullish comments made by Morgan Stanley's European strategist Teun Draaisma.  Draaisma commented that European stocks are now flashing a "full house" buy signal after these markets have priced in an earnings recession, and retail investors, purchasing managers, and sell-side analysts have all capitulated.

While we don't normally highlight specific calls by strategists, we think Draaisma's prior calls are worth pointing out.  Judging by the buy and sell signals that we were able to document since 1996, his calls have been pretty timely.

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Comments

[Matt Blackman:]

Great, but 3 long signals and 2 short signals does not a statistically significant system make... Now if he had 50 or 100 trades and the success rate still looked good, then it might be time to give it credence.

2008 Nov 05 12:00 PM