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The Most Hated Dead Cat Bounce Ever? Wall Street Is Throwing Up All Over This Rebound
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
zerohedge.com / by Tyler Durden on 02/16/2016 15:09
For the longest time, it was “the most hated rally ever” and, as even the Davos crowd has now admitted, with good reason: it was all central bank manipulation and intervention, both of which are about to lose all potency forcing even the billionaires to admit that “the trade now is to hold as much cash as possible.” As the WSJ summarized three weeks ago, the billionaires’ “mood here was irritated, bordering on affronted,with what they say has been central-bank intervention that has gone on too long.”
Well, be careful what you wish for, because as Deutsche Bank explained moments ago the central-bank intervention must go on, or else these billionaires will be even more irritated when their stocks crash and they become millionaires first, then hundred thousandaires, and so on.
In the meantime, the markets have rolled over, and after twice testing the key support level of 1,812 in the S&P 500, violent dead cat bounces have emerged every single time.
And yet in an unexpected twist, this time the majority of Wall Street “experts” is not only not cheering this rally on but is urging anyone who cares to listen to use it to liquidate positions; in fact thus may well be the “most hated repeat dead cat bounce ever.”
Here are some observations, first from the technicians courtesy of BBG:
The post The Most Hated Dead Cat Bounce Ever? Wall Street Is Throwing Up All Over This Rebound appeared first on Silver For The People.
Thanks to BrotherJohnF
Source: http://silveristhenew.com/2016/02/16/the-most-hated-dead-cat-bounce-ever-wall-street-is-throwing-up-all-over-this-rebound/
