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‘Make-or-Break Week’ or More of the Same?

This is being hailed a “make or break” week for the euro-zone. Nicolas Sarkozy and Angela Merkel say they’ve got a plan to overhaul the treaties that underpin the European Union. Stocks are rising. But so far, advisers are still hugging the fence.

A pivotal week? Advisers say they’ve heard that one before. “It’s one of many pivotal weeks,” says Paul Nolte, the managing director of Dearborn Partners. “We’ve heard the pivotal week story quite regularly since August.” Investors shouldn’t try to respond to every new announcement out of Europe, because the situation there is changing so rapidly and the markets are reacting so violently to every change, Nolte says. He recommends sticking with a balanced portfolio of stocks and bonds, tilted slightly towards more defensive stock sectors like consumer staples or technology (where companies are sitting on a lot of cash), and waiting out the storm. “Betting on politicians has never been very profitable,” he says.

Last week’s rally, which so far is carrying into this week, could easily turn into an illustration of the trading cliché “buy the rumor, sell the news,” says Ethan Anderson, a senior portfolio manager at Rehmann Financial. Traders are optimistic now that a solution to Europe’s debt crisis is in the works, but any actual plan is quite likely to disappoint somebody, Anderson says. “This is very much a headline-driven market, and unfortunately we don’t know what’s going to come out in the headlines,” he says. “Right now, we’re firmly on the fence.” Investors should have some money in stocks now, in order to benefit if the rally continues, but should wait for more clarity about Europe before adding to those positions, he says.

Of course, some advisers are getting in on the current rally. As long as the summit this week develops a plan to bring individual countries’ budgets under tighter control, and politicians keep talking optimistically, the markets are likely to rally through the end of the year, says Tom Samuels, a managing partner at Palantir Capital. “I think in this environment, it pays to be long,” Samuels says. He says his firm had been short the Russell 2000, but got out of those short positions last week and will probably buy more stocks now. However, he says, they’ll stick to large U.S. corporations whose stocks are highly liquid, in case they’re wrong about the rally and need to exit positions quickly.

Whatever happens this week, it’ll set the tone for the rest of the year, says Rodney Johnson, the president of HS Dent. “Wherever you are this week, stay there for a few days and see what happens,” Johnson says. If the market rises, investors will miss the first pop before they can commit more money; if it falls, they’ll take some losses before they can exit some positions; but either way, investors can take comfort in the fact that the market is still nearly flat for the year, so a move either way shouldn’t be too much of a concern, he says.

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    • By WebOsPublisher

      0018101: Preview icons missing in new page wizard if TYPO3 is installed in subdirectory of DocumentRoot – TYPO3 bugtracker
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      This bug tracker is deprecated!
      Dear visitor,
      this is the historical bug tracker of the TYPO3 project, which should no longer be used.
      All remaining projects should finally move to our new platform forge.typo3.org, where already issue trackers for the TYPO3 CMS Core and its extensions are located.
      This site will be read-only starting from 2012/12/01 and is planned to be shutdown during the beginning of the year 2014.
      Go to: forge.typo3.org | dismiss this message
      It’s not a bug, it’s a missing feature.
      bugs.TYPO3.org
      Anonymous | Login | Signup for a new account08.12.12 09:02 CETProject: All Projects
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      Main | My View | View Issues | Change Log | Roadmap | Summary | Docs
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      ID
      Category
      Severity
      Reproducibility
      Date Submitted
      Last Update
      0018101
      [tx_templavoila] Page module
      minor
      always
      14.04.11 15:58
      14.05.11 16:05
      Reporter
      Tobias Schaefer
      View Status
      public
      Assigned To
      Tolleiv Nietsch
      Priority
      normal
      Resolution
      fixed
      Status
      closed
      Product Version
      1.5.4
      Summary
      0018101: Preview icons missing in new page wizard if TYPO3 is installed in subdirectory of DocumentRoot
      Description
      Under certain cercumstances the preview icons in the "new page"-wizard at step "Select a template for your new page" are missing. The circumstances are:
      - more then 1 template with a preview icon (the preview icon of the first template is always shown correctly)
      - TYPO3 is installed in a subdirectory of the DocumentRoot-folder (e.g. domain.com/cms)
      The reason for the missing preview icon is a needless "../" in variable $previewIconFilename in line 329 in mod1/class.tx_templavoila_mod1_wizards.php (see patch).
      Additional Information
      The bug is also in the trunk-version (rev. 46505)
      Tags
      No tags attached.
      Has patch
      PHP Version
      5.2
      TYPO3 Version
      4.4
      Attached Files
      templavoila_preview_icons_missing.jpg [^] (65,558 bytes) 14.04.11 15:58
      patch_18101.patch [^] (1,173 bytes) 14.04.11 16:00
      Relationships [ Relation Graph ]
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      Notes
      (0060882)
      Tolleiv Nietsch (manager)
      10.05.11 23:34
      Committed to trunk (rev. 47548) and templavoila_1-5 (rev. 47549)
      Notes
      Issue History
      Date Modified
      Username
      Field
      Change
      14.04.11 15:58
      Tobias Schaefer
      New Issue
      14.04.11 15:58
      Tobias Schaefer
      File Added: templavoila_preview_icons_missing.jpg
      14.04.11 15:58
      Tobias Schaefer
      PHP Version
      => 5.2
      14.04.11 15:58
      Tobias Schaefer
      TYPO3 Version
      => 4.4
      14.04.11 16:00
      Tobias Schaefer
      File Added: patch_18101.patch
      15.04.11 02:00
      Tolleiv Nietsch
      Status
      new => acknowledged
      15.04.11 02:00
      Tolleiv Nietsch
      Target Version
      => 1.5.5
      26.04.11 11:15
      Adrian F?der
      Issue Monitored: Adrian F?der
      10.05.11 14:43
      Tolleiv Nietsch
      Status
      acknowledged => assigned
      10.05.11 14:43
      Tolleiv Nietsch
      Assigned To
      => Tolleiv Nietsch
      10.05.11 23:34
      Tolleiv Nietsch
      Note Added: 0060882
      10.05.11 23:34
      Tolleiv Nietsch
      Status
      assigned => resolved
      10.05.11 23:34
      Tolleiv Nietsch
      Fixed in Version
      => 1.5.5
      10.05.11 23:34
      Tolleiv Nietsch
      Resolution
      open => fixed
      14.05.11 16:05
      Tolleiv Nietsch
      Status
      resolved => closed
      Issue History
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      in case of Problems mail to: service [at] bitfarmers [dot] com
      Mantis 1.1.8[^]
      Copyright © 2000 – 2009 Mantis Group

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