I feel like the days of limit down are lurking……
— LatinOptionsTrader (@BrownTexasNinja) May 19, 2020
this would bring about 2650 on the s&p 500 pic.twitter.com/9J7cY9WopD
— hks55 (@hks55) May 19, 2020
love looking at the weekly chart mid week. tells you a lot imo.
i dont want to say these two arrows are the same buttttttttt……………..same. pic.twitter.com/qCMMAskTiT
— hks55 (@hks55) May 19, 2020
Reminder: forwards don't matter because it's apparently different this time. pic.twitter.com/RPZOlbf4mF
— Not Jim Cramer (@Not_Jim_Cramer) May 19, 2020
Office Depot Layoffs 2020: 13,100 Jobs Cut, Store Closures, And Shuttered Distribution Centers
- 68% of fund managers say this is a bear market rally, not based on fundamentals
- but they predict a SP500 level of 3020, 2% up from now.
- They think the biggest risk is a 2nd wave of COVID; the biggest hope is a vaccine.
This seems to be a classic example of Keynes’ Beauty Contest, where a social consensus about likely group behavior overrides not just individual judgement, but knowledge of others’ individual judgements. If these managers intuited the survey results already, then everybody knows everybody thinks the market is overpriced, but they also trust the group not to act on this belief.
Government predicts GDP will tumble by 38%, the greatest single drop in history