Nomura’s McElligott Weighs In On Wednesday’s ‘Bonkers Freakout’

Nomura’s McElligott Weighs In On Wednesday’s ‘Bonkers Freakout’

Selling begets selling into an illiquid market facilitating a vicious downward spiral. It's a familiar dynamic and it played out again on Wednesday, as US equities careened lower amid a laundry list of concerns, not least of which was a new lockdown in Germany, where Angela Merkel stepped in to contain what Economy Minister Peter Altmaier called an "explosion" in COVID-19 infections. "Equities options 'Dealer Gamma vs Spot' in both SPX and QQQ is significantly 'short' now and keeps us lurching
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One thought on “Nomura’s McElligott Weighs In On Wednesday’s ‘Bonkers Freakout’

  1. The energy sector (read that as “oil”) is going to be an awesome trade at some point. Was reading John Ã…uthers’ latest. Interesting analysis and good read as usual. A lot of people are frothing through their lips for the trade.

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