DAX-Sentiment: The Correction that Never Was

21. February 2013 by Gianni Hirschmüller

20 February 2013. FRANKFURT (Börse Frankfurt). On the face of it, German institutional investors have given the domestic equity market a huge vote of confidence. Since last week’s survey there has been a marked bullish swing among members of Boerse Frankfurt’s sentiment panel – so much so that overall optimism, as measured by the Cognitrend Bull/Bear-Index, climbed to the loftiest level of the year. However, a closer inspection of the breakdown of the numbers, and a look at the news that reportedly prompted the DAX index to rally to a three-week high, reveal that confidence probably never left. Our contention is that these investors would have bought stocks almost irrespective of what happened over the past five sessions…

Read more on Boerse Frankfurt’s website

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vposted on 21. February 2013 at 9:56 am

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