Full Steam Ahead

Published on
October 18th, 2018
21 minutes

Full Steam Ahead

Trade Ideas ·
Featuring Michael Purves

Published on: October 18th, 2018 • Duration: 21 minutes

Is it time to buy the dip? Michael Purves, chief global strategist of Weeden & Co. reviews the recent selloff and answers this question. He discusses his outlook for the rest of the year and explains how to make the play in this interview with Justine Underhill. Filmed on October 17, 2018.


  • DS
    David S.
    18 October 2018 @ 18:46
    Michael Purves quote from transcript - "But the broader global picture has been really pretty constructive." Can anyone support this assertion? I just see the flock of unidentified black swans. DLS
    • MT
      Mike T.
      18 October 2018 @ 19:15
      Fully agree. Perhaps Mr Purves has not noticed the ever worsening slow down in econ data coming out of Europe, China and Japan for over nine months now.
    • DR
      David R.
      22 October 2018 @ 21:59
      Yes David, it indeed looks to be rolling over. Per the latest Peter Brandt today too, who has also been a guest on here. But, there is no certainty in these uncertain markets.
    • DR
      David R.
      22 October 2018 @ 22:04
      And Mike, the data from the US is getting really, really bad too. In fact, the US leads the world in the Ciit Economic Surprise index - for negative surprises. As bad as Europe and China were in January, when they'd been on top of the world for 14 months. So expect US to get really, really bad when few are looking. Usually it's the way it goes, too. Refer to the new Juliette Declercq piece out today (must pay), who has been on RV. Very, very bearish USA and USD: in a nutshell, she says, how can USD do anything but plunge with most of the key US leading economic data rolling over now? Such as big US credit contractions, huge excess inventory and US house prices starting to tumble etc.
  • OC
    Otto C.
    22 October 2018 @ 03:07
    We should get a bear market rally soon but definitely I would not be going long when risk is statistically higher to the upside.
  • MM
    Mike M.
    21 October 2018 @ 17:01
    I will wait, the second mouse gets the cheese. Sounded like Purves was auditioning for Cramer's job.
  • BM
    Beat M.
    20 October 2018 @ 06:50
    „full steam ahead!“ Titanic’s captain ordered, putting aside the warnings, because this was a new era, different, exciting!
  • FG
    Flavio G.
    18 October 2018 @ 21:03
    Missing that FB has a demographic disaster ahead.
  • GF
    George F.
    18 October 2018 @ 13:45
    I would like a transcript to make following his argument easier. Pro tip: button your top button.
  • ZY
    Zheng Y.
    18 October 2018 @ 13:00
    honestly, 181 is 50 moving ave and neck line, basically, wanna people to do count-trend humhum. 187 is is the potential right should is cat have nine life, interesting.
  • ZY
    Zheng Y.
    18 October 2018 @ 12:56
    really frankly is earning, hum sounds interesting. show projected fundamental and technical data, then people can evalute, not the talk! wasting time really, sorry for this outburst.