During the "tech wreck" 2000-2002 the Nasdaq 100 declined -83%
During this time there were seven bear market rallies of more than +20%
You can get away with pretty-much ignoring countertrend moves in a bull market. Much harder in a bear market. pic.twitter.com/NRloCziFGz
— Simon Ree (@simon_ree) August 1, 2022
We are now literally hearing from multiple Fed members multiple times a day.
On top of this, each Fed member is expressing a completely different view.
The result is record lower investor confidence and violent market swings.
The Fed became the problem they were meant to fix.
— The Kobeissi Letter (@KobeissiLetter) August 2, 2022
There’s a huge misconception that the fundamentals have gotten better.
Just because stocks are up 10% off the lows, it does not mean the economy has improved.
We have a topping housing market with the Fed raising rates into a recession.
Recessions simply do not end overnight.
— The Kobeissi Letter (@KobeissiLetter) August 2, 2022
Bulls, you will be happy to know I have upgraded this meltdown to "Economic Apocalypse".
More reason to BTFD. pic.twitter.com/Tl1oDNBydY
— Mac10 (@SuburbanDrone) August 2, 2022
The market is on vacation.
It will stay this way until it explodes.
"For no reason" pic.twitter.com/ObxOtMpSPj
— Mac10 (@SuburbanDrone) August 2, 2022
Current situation:
1. Stocks up like the bull run is continuing
2. $VIX up like stocks are ready to crash
3. Oil prices down like inflation is gone
4. Gold up like inflation is at 15%
5. Housing market topping like the crash is just beginning
Truly, nothing is adding up.
— The Kobeissi Letter (@KobeissiLetter) August 1, 2022
3 month Libor rate for dollars climbed to highest level since financial crisis as traders price in larger interest-rate hikes by the Fed. Libor rose for the fourth straight session, rising roughly 2.5bps to 2.83229%, the highest since Nov2008. (BBG) pic.twitter.com/ounh70ZlHQ
— Holger Zschaepitz (@Schuldensuehner) August 3, 2022
Futures net spec keeps growing more negative.
Contrarians say this is a good sign.
Unfortunately, record negative spec was at the top in 2007. And record long spec was at the bottom in 2009.
Turns out, it's a good idea to be short in a bear market and long in a bull market. pic.twitter.com/nUipyUfmA5
— Mac10 (@SuburbanDrone) August 2, 2022
It's clear that today's bailout junkies have no clue what is a bear market.
They've been euthanized by monetary heroin. pic.twitter.com/Aj6Ewz1rRV
— Mac10 (@SuburbanDrone) August 2, 2022
*COMMERZBANK WARNS GERMANY COULD FACE A CONTRACTION LIKE 2008 FINANCIAL CRISIS IF RUSSIA CUTS OFF GAS SUPPLIES
— 🅰🅻🅴🆂🆂🅸🅾 (@AlessioUrban) August 3, 2022
Bankruptcies in UK highest since financial crisis pic.twitter.com/ltz0cxbWOI
— 🅰🅻🅴🆂🆂🅸🅾 (@AlessioUrban) August 2, 2022
Gasoline demand destruction? pic.twitter.com/60THMZ2PGj
— Special Situations 🌐 Research Newsletter (Jay) (@SpecialSitsNews) August 2, 2022
Futures positioning is the most bearish since 2016 pic.twitter.com/BwY47ZpBwX
— Barchart (@Barchart) August 3, 2022
Looks like consumers are not buying the Fed's no recession narrative. pic.twitter.com/nKFjYXZ0Jw
— Sven Henrich (@NorthmanTrader) August 3, 2022