Friday, October 2, 2009

S&P May Continue to Push Higher: Barclays

By: JeeYeon Park
The S&P 500 could continue to push higher as investors "climb a wall of worry," said Phil Roberts from Barclays Capital.“We’re in a very constructive technical situation,” Roberts told CNBC. “The most bearish month for equities is September, and it turned out to be a positive month. We started out [October] exactly the same way we started September—we’re trying the downside once more.”Traders generally regard October as a bad time for markets, but Roberts said excluding 1987 and 2008, it’s actually a positive month on average.

http://www.cnbc.com/id/33124661

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