Instability At Warp Speed

Instability At Warp Speed

Headlines for western markets on Wednesday revolved around some iteration on the narrative that equities are attempting to rise "despite" an unexplained illness that prompted AstraZeneca to halt immunizations in an experimental coronavirus vaccine trial, but that's probably not the correct way to frame things. Rather, after three days of losses for big-cap US tech and with the Nasdaq 100 now squarely in correction territory, US stocks, to the extent they do manage to rebound, were due for a dec
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3 thoughts on “Instability At Warp Speed

  1. Last evening, Jim Cramer (America’s second favorite stock pundit) predicted a bounce today. Be beseeched his followers to use it to “Take some money off of the table” if one hadn’t already.

    More interesting was how he tried to explain to his legion how betting on stocks and sports differed. Some like sports bets are on a finite event = the game or season ends and you win or lose. He explained that in stocks, you had no realized win or loss until you sold your position. The fact that he felt compelled to make this point does add credence to the Robin Hood narrative.

    I was unable to listen to much of America’s favorite pundit however. 2nd term Treasury Secretary Lou Dobbs was still ranting about the “irresponsible” journalists who presented the the French cemetery story.

    1. Actually, Cramer’s wrong. If you took his Bear Stearns buy recommendation a few years back, you could have realized a loss without taking any action. I guess the season ended.

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