Try not to overthink the selloff. Watching players try to justify this move is like watching someone trying to reason out every little technicality of time travel in a Back To The Future movie. It ruins it, so just let it go. Grab some popcorn and enjoy the classic.
The market was way overextended, trumped on seasonal data and hope that housing/Japan would usher in a new global gilded era. Bears picked this moment to raid the camp because it had the maximal effect of taking the wind out of your sails.
My expectation is for a broad, 7-8% selloff, taking us to around SP 1540. Will I get it?
I guess we’ll find out shortly.
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I share your view…but Obama clearly forgot who kept the market afloat during election season for him…
Nimble a tiny position on SDS calls.
anybody else notice that chinese stocks are holding up pretty well