hoots, page-54

Looking at the financial reads over the last few days focussed on the US there was a balance of articles claiming the market had bottomed out and those with a more bearish approach looking at the S&P 500 bottoming circa 2000. Bill Ackman, (Pershing Capital Management) told the market the world was facing armageddon with Corona, took a USD 27 million position and promptly turned it into 2.6 Billion through defensive hedge bets.(Fear at its best!)
The tone is slowly changing towards a more bearish bias with earnings downgrades.

An excerpt from an article in bloomberg this evening that struck a bit of a chord

“The American stock markets seem again rocked by a soft-maintained illusion by the Fed,” wrote Jacques Lemoisson, head of global macro at CbH Asset Management, in a note referring to the recent rally spurred by monetary stimulus. “The problem with illusions is that it doesn’t always last very long.”
Full article
https://www.bloomberg.com/news/articles/2020-04-01/wall-street-s-bullish-illusion-shattered-by-bad-news-onslaught?utm_content=business&utm_source=twitter&utm_medium=social&utm_campaign=socialflow-organic&cmpid=socialflow-twitter-business