Markets were already on the rise from the lows and then legendary investor and old AF curmudgeon Leon Cooperman went on the teevee, interviewed on CNBC, bitching about down stocks and how algorithms were to blame for everything. He asked for the SEC to do something and for people to stop freaking out about a minor 10% blip.
He pounded the table like a wild dog about stocks being cheap, at 15x, and how the economy was growing great — talking about better days when shit was hitting all time highs.
The Nasdaq was down 2.5% and now it’s just down 0.5%. In the big scheme of things, in spite of all the drama, the market has, effectively, done nothing for 2018.
Cooperman is very upset over those damned computers. He wants the SEC to do something about it now and also like low oil, even though we’re not a net exporter of crude. He didn’t know about high yield and how lower oil can hurt that market; but that’s all right because he’s 175 years old and he traded in the fucking Tulip craze crash.
UPDATE: Leon Cooper, August 2007 — WHY I AM A BULL.
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NOT NICE!
Real talk: your view on the uptick rule?
I don’t care
G-20.in
Wonder if Abby Cohen is next on the lineup at CNBC?? Lol. NOW FLY, do I finally get my Big Ugly Bubble Bursting Bear Market? Lol, what I don’t really get is that nobody is talking about the massive mess that Brexit is. Next week PM May is going to have Parliament vote and everybody knows that she doesn’t have the votes to pass the EU agreement. Hard Exit is starting to look like a good chance.
Looks like le Macarooni is having a bit of attention too
No Confidence Votes for everyone! Well, except for Chinese Xi, he is president for life.
Yeah, that just happenned, and becuase our attention is on our toddler president, America just went “Meh”.
Of course, we don’t really care about democracy, human rights, etc., just oil and cheap goods.
He’s right in terms of the valuation
Forced selling will resume.
This move was telegraphed before Cooperman opened his mouth
“Closed market after a day like this: bad news. Prediction: huge gap down for Thursday mornign, but maybe it gets filled.”
numbersgame, 12/4
(market gaps down huge)
key China stock AMZN and MU, and key retail trader momentum stocks NFLX and AMZ bottom before 10am and trend strongly upwards. VIX unimpressive
-> close shorts, expand longs.
“I think that we go up, and then take another plung in a few weeks (maybe ealry january)… ie, I’m very long the market now”
numbersgame, December 6, 2018 at 10:16 am
key index mover AAPL, QQQ bottom at ~11:30 MSFT close to lows bottom at this time, MU, NFLX, AMZN well above lows.
I’m still biased bullish, but will probably end up neutral by the end of tomorrow
https://ibankcoin.com/flyblog/2018/12/06/cramer-us-china-row-not-trade-global-hegemony/#comment-556042
https://ibankcoin.com/flyblog/2018/12/04/traders-killed-en-route-national-funeral/#comment-555965
https://ibankcoin.com/flyblog/2018/12/06/get-fucking-ark-lads-market-toast/#comment-556047 (4 comments)