Yeh but yesterday's trades havent even settled. Otherwise, where's the margin pressure coming from? The mareket is only down a bit for the week.
Unlike most days where you guys cry PPT on every random uptick, today you could clearly see an orchestrated attempt to cushion the selling at the market open. Many issues on the NYSE had delayed opens because the HFT and algo crowd had no interest in showing bids. Once it was clear that the fear was contained, the algos switched on and bids appeared. Filthy and rigged, but its not a daily occurence.
There's no way whatta's methodology is wise or even actionable. A drop like the one in feb would have been ruinous. But when it comes to belief in central banks making everything better, which is his only gimmick, have to say its pretty much been spot on.
Jen, markets remain stuck in a nearly 2 year range, hemmed in by valuatuion issues on one side and supported byFed coddling on the other. A breakdown in prices can only come when faith in central banks starts to waver. In this regard, whattamarket has been right.
I could argue that there used to be a balance between market oversight and their other objectives. But now there's only one objective.
They have all the data they need to start to normalize but can not abide a negative market response. They tested the waters in Dec and didn't like the outcome.