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‘Chopped’: Nomura’s McElligott Weighs In On ‘Sell The Rip’

"Yet another expression of macro regime change."

"Yet another expression of macro regime change."
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4 comments on “‘Chopped’: Nomura’s McElligott Weighs In On ‘Sell The Rip’

  1. Lol, your puns sometimes are really something. Spot on, from a Xmas Carol. By the way, a guy on SA just demonstrated that santa rally is a myth. It was a statistical fact till 1972, after that year December is not significantly better than any other months. Probably being a proved seasonality before 1972 the legend persisted but it is just that…a legend.

  2. It never ceases to amaze me how sentiment can change so quickly. Just 11 months ago all we had were bulls based on tax cuts, deregulation, buybacks etc. Even though the global econ was slowing, Fed hiking, debt at govt and corp levels high etc. Though many stocks struggled the averages held up then trade issues (which have been with us really since T was elected).

    Now sentiment is horrific and after huge flows coming in at the highs in Jan we see selling.

    I have been a bear but I see opportunity. I still think the future is bleak but we have a good setup for a pretty strong rally. My money is on a rally.

    • I agree with your assessment. We need to keep our fingers crossed that the selling accelerates this week. That would create a fantastic opportunity to make a full year’s gain in the first 2 weeks of January. Time will tell.

  3. Doves certainly don’t have turbofans to propel their flight anymore. And….Jay Powell thinks rebuilding as much ammunition as possible while not empathizing with stock jockeys is the coolest way to go. His put strikes at SPX 1840, mind you.

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