Cross-Asset Strategist & Quantitative Analyst, Pennock Idea Hub

Cam Hui

Cam Hui has been professionally involved in the financial markets since 1985 in a variety of roles, both as a quantitative equity portfolio manager and as a sell-side analyst. He graduated with a degree in Computer Science from the University of British Columbia in 1980 and obtained his CFA Charter in 1989.

Cross-Asset Strategist & Quantitative Analyst

Pennock Idea Hub

We are creators of independent equity research. The Pennock Idea Hub team are veterans of the investment industry. Much of our team has spent their careers at Merrill Lynch, Deutsche Bank, RBC Capital Markets and Wood Gundy. We have taken every aspect of research back to the studs and returned to first principles. The Pennock Idea Hub marries the interests of the sell and buy side. 

We offer the best research for institutional investors by:

-Only publishing research from veteran analysts
-Eliminate the inherent conflicts of the traditional sell and buy side relationship
-Ensure our team is always accessible; collaboration with clients nurtures our collective success

Cross-Asset & Quantitative Research

Cross Asset Strategy

<p>We normally only give seasonality secondary consideration in our analysis. But April is the most bullish month of the year for the S&amp;P 500 in the last 20 years and positive 80% of the time. Combined with the recent healthy internal rotation in the market, and if seasonality continues to track, the stock market should grind higher for the remainder of the month.</p><p>We conclude from our analysis that the market can continue to rise in April. A healthy internal rotation has occurred that has relieved the pressure of overbought excesses. Several potential opportunities have arisen as a result of the market rotation:</p><ul>
<li>A opportunity to lighten up on growth stocks;</li>
<li>A opportunity to buy into value stocks;</li>
<li>A bond market rally; and</li>
<li>A possible bullish set-up for gold and gold stocks.</li>
</ul>

We normally only give seasonality secondary consideration in our analysis. But April is the most bullish month of the year for the S&amp;P 500 in the last 20 years and positive 80% of the time. Combined with the recent healthy internal rotation in the market, and if seasonality continues to track, the stock market should grind higher for the remainder of the month.We conclude from our analysis that the market can continue to rise in April. A healthy internal rotation has occurred that has relieved the pressure of overbought excesses. Several potential opportunities have arisen as a result of the market rotation:
A opportunity to lighten up on growth stocks;
A opportunity to buy into value stocks;
A bond market rally; and
A possible bullish set-up for gold and gold stocks.


Internal Rotation + Seasonality = Higher S&P 500