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h00ts

46,405 Posts.

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02/04/20

10:16

Post #: 43834621
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Originally posted by bluesky52 ↑

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/arti...organic&cmpid=socialflow-twitter-business

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Day traders are killing it pity anyone who bought CBA at $68 on the bounce its back under $60 and the chart looks crap.
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