Recent Market Action Summarized In Four Words: “Institutions Selling, Retail Buying”…”biggest sucker in the room – retail investors.”
by Tyler Durden
ZeroHedge.com
11/17/2015
The irrational market got you seeing double again? Virtu’s algos just slammed all your bid and ask-side stops? All your shorts soaring and your longs tumbling while the market’s multiple continues to grow solely thanks to the Yen carry trade?
For some this centrally-planned trading environment is a nightmare which leads to trading paralysis, like for example Dennis Gartman:
Do we believe this rally? No, we do not. We refuse to believe that “terror” is bullish. We refuse to believe that the deaths of 129 innocent people by madmen are materially supportive of stock prices. We refuse to accept the notion that the odds of a Fed tightening are reduced modestly and that that is massively supportive of stock valuations. We refuse to believe that common sense has been cast overboard entirely… We are indeed in a brave new world. It is a world we are not particularly fond of, however, if this is the new reality…. We refuse to believe that common sense has been cast overboard entirely, and so neutral we are and neutral we shall be.
The Rest…HERE
