Focus on Defensive Measures, Keep Cash
from Market Watch Hosted by BFM Media
Tim Mulholland, MD at China-America Capital Company in Chicago talked about - the growing danger of a double-dip scenario Morgan Stanley cut its forecasts for global growth, citing 'recent policy errors' in the US and Europe, while Deutsche Bank cut its Chinese GDP growth forecast for 2011 to 8.9% from 9.1% - his read on a stack of data overnight from the States - CPI, jobless claims, existing home sales and Philadelphia Fed survey. CPI was on the high side and Philly survey was at its lowest since March 2009, causing a stir in the market. - gold soared above $1,800 an ounce - profit taking can be done, but at these levels, you don't know how high it can go. - what he's buying up now: utilities, companies with strong cash flow. but no rush to buy. don't let money burn a hole in your pocket be a position to be opportunistic. - what he's telling his clients - hedge funds and alternative investments.
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