Already have an account? log in
This article is FREE for you
Create a free account and join institutional investors, analysts and strategists from the world's largest banks
By submitting your email address you agree to receive communication by email
‘Bearish Thoughts’ Will Be ‘Punished’
Global equities powered ahead coming off holidays in the US and the UK, as reopening optimism and th
OR, subscribe now for unlimited access
By submitting your email address you agree to receive communication by email
By submitting your email address you agree to receive communication by email
The Fed and other central banks have become Big Brother, always watching you, impure bearish thoughts shall indeed be punished. I still hold some $SPY put spreads as a hedge but I might exit or roll those out if SPX clearly breaks through resistance at the 3000 level this week, who would have predicted that in late March? (Other than Tom Lee who would see markets higher even if an asteroid was about to collide with the planet). Anyway, it is getting harder to argue this is a bear market rally as opposed to a new bull market, but I remain very unlikely to pour cash into this nascent optimism, last couple of weeks saw most of the positions I entered into in March called after hitting what I have to describe simply as ridiculous levels given the real life economic environment. Time to sit tight and wait, no need to suffer Big Brother’s ire even if I’m tempted by juicy bearish trades…
As if Mr. Market were returning still giddy from a cathartic day spent at the Lake of the Ozarks pool party