Everyone is looking for a bounce to sell into or go short. How do you develop a bounce from that scenario?
Two of my gurus agree we're headed lower, sharply, but the third still thinks any down move will be temporary and new highs will be seen before the end of the year. Hmmm.
I'm hurtin', but not as badly as March '20 covid crash or the Sep '19 burnout. I sold a couple things last week, and hope to pickup a couple shorts Monday.
The safe bet is margin calls for the leveraged.
This is all brought on by the Fed which chose growth at any cost over Fed positioning for the next recession and allowed 'Taper Tantrums' to influence their interest rate policy. And the biggest criticism I have is the Fed is supposed to be transparent, but they never, never, never addressed the consequences of ZIRP and its effect upon business, markets, and the economy. They knew early on - they HAD to know early on because many prominent analysts on Wall Street were public about it - that low interest rates would lead to distortions: too many business startups based on cheap money. They know the effects of cheap money. But they just lied their way through it. All the Fed chiefs bear responsibility, most of all Bernanke and Powell. Powell is as competent as Roberts.