An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Monday, February 3, 2014
S&P 5% down. Been looking for this correction for a while.
S&P Index finally gets a 5% correction. I raised cash back in October and I finally can buy some good stocks back today at lower prices than the levels at which I sold them. Nibbling here.
How many Yen shorts left to cover? That certainly has catalyzed much of this selloff. Once that is over and done with I see a significant amount of pent up consumer demand from the horrendous winter being unleashed, although we might not get confirmation till early Q2. Still, wouldn't be surprised to see a hard bounce , if not significant retrace, before then. This isn't 2008, no matter what Karl Denninger thinks.
How many Yen shorts left to cover? That certainly has catalyzed much of this selloff. Once that is over and done with I see a significant amount of pent up consumer demand from the horrendous winter being unleashed, although we might not get confirmation till early Q2. Still, wouldn't be surprised to see a hard bounce , if not significant retrace, before then. This isn't 2008, no matter what Karl Denninger thinks.
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