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Bubble Trouble.
This month, when BofAML asked fund managers to identify the most crowded trade, survey respondents chose "Long Nasdaq" for the sixth time in seven months. The only other trade to take the top spot over that stretch: "Long Bitcoin."
Well needless to say, those trades have panned out pretty well, but on Wednesday there was some pain in the Nasdaq and some hilarity in Bitcoin.
It was an abysmal day for FANG. Specifically, it was the worst day in 22 months. This was also the worst day for
Rotation from Tech to Financials and Service. The yankee are so fags: if they rotate so fast they will trigger volatility and deleveraging -> broad market correction
Agree with Anon……..junk bonds, yield curve, EM are predicting at least a major correction.