Santa Claus swooping down and kicking Fed’s Dudley in the cranium. Also, we need crude to stop going lower. The fuck. It isn’t enough to see oil stocks stabilize. This God foresaken commodity must get a grip of itself.
We also need to see large cap tech assert itself, whether it be MSFT, ORCL, AAPL or CRM. We know INTC isn’t going to provide succor today, after that abysmal conference call.
How about some momentum oriented stocks going higher, like biotech, cyber security or solar?
Lastly, TLT needs to sell off and breadth must steadily improve. Right now we’re at 93% negative market breadth. Should that number double, I’d be intrigued about seeing the market reverse.
At the end of the day, we all know stocks are oversold. Emotions aren’t even playing a factor, at this stage in the rout. This is liquidation, full mercy, people getting margin calls and meeting them through sales. With the long weekend ahead, buyers are on strike.
If you enjoy the content at iBankCoin, please follow us on Twitter
We live in deflationary times, why buy now when we can buy lower next week.
based on my 08-09 analogue I would agree with you
Even then we had sharp rallies. Hell, we had a 1,000 point rally then.
90% down day with fewer new lows so far … 1100 new lows , yesterday 1500 … squint and there are divergences
It’s the longer term mother of all mean reversions. one way market. crouded trade. artificially low vol exploding.
Sings of crude reversal will probably be around $22/barrel.
US & US FED can either have QE4 etc to try and stabilize mkts, oil prices etc or it can have strong $US as weapon in fight to finish vs Russia/China, but not both. Think more of later until later this year when global oil production/supply collapses.