Stocks 'melt-up' seems set to continue

The stock markets have rallied strongly, and January looks likely to be the best start to a year since 1987, writes Marc Tenwick.

29th January, 2012
Stocks 'melt-up' seems set to continue
After bottoming out on October 3, the markets have since rallied strongly by about 20 per cent. Photo: Getty

You often hear traders refer to a "melt-up" in stock prices, which means a dramatic and unexpected improvement in the investment performance of an asset class driven by investors who don't want to miss out on its rise.

Last week we notified our clients that stocks had reached overbought levels after rallying strongly in recent weeks. In fact, January is already on track to be the best start to a year since 1987. The year-to-date...

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