The latest GDP statistics in the Euro-zone countries are barely positive and the trend is leading to significant negative numbers for the current quarter.
While that zone may prove to offer some resistance the overall trend is still strongly pointing up so any shorts would need to be managed very carefully.
Syracuse has struggled offensively in the past month and especially during its skid while facing mostly zone defenses, and Purnell went to a zone in the second half hoping to keep the trend going.
That said, Barclays Capital analysts in London said in a note to clients on Monday that they saw a strong trend tendency in portfolio flows, warning of more outflows given the current high level of investor uncertainty surrounding the euro zone.