The stock market surged on Friday as investors hit the buy button with gusto after the jobs number came in much better than expected and
The PM’s comments came just one day after the ECB signaled that it was preparing to buy Spanish bonds.
Considering weakness in the market has been pegged to employment and Europe – should you start buying now before you miss the next leg higher?
Top trader Joe Terranova, chief market strategist for Virtus, thinks so.
“I’m long and adding to my longs,” he reveals on CNBC’s Fast Money Halftime Report. Not only does he think developments mentioned above are a sign that big market headwinds are starting to die down but he sees a couple tailwinds coming into the market.
“In the next couple of weeks I wouldn’t be surprised to see the Bank of China move,” he says.
That, he says, would take investors by complete surprise, because right now the Street is much more focussed on the ECB and Fed.