A rapidly rising market has caught a lot of investors off-guard.
He loves to watch what he calls the "pain trade," the move in the markets that would catch the largest number of active investors off-guard.
Surveying Monday's late-day rally on the floor, Anderson looked up at the NYSE boards and said, "the pain trade is up."
The S & P 500 is now within 1.4% of its old closing high of 5,254 from March 28th.
The STOXX Europe 600, essentially the S & P 500 of Europe, is also less than 1% below an historic high.
Persons:
Tim Anderson, Anderson, It's, Nicholas Colas, DataTrek, Ingersoll Rand, Parker, Hannifin, it's, Alec Young, MAPsignals.com
Organizations:
MND Partners, NYSE, Nasdaq, Utilities, Reuters, Southern Company, EatoN Corp
Locations:
Europe, industrials