Submitted by QTR's Fringe Finance
Just wanted to offer up a quick lesson this morning because every time the market stages one of these violent next-day bounces like it had yesterday (NASDAQ was up about +3.7%), I find myself dealing with the same giant brained geniuses telling me my bearish outlook is wrong and the worst is over.
It’s not just the usual collection of social media NPCs who suddenly become market strategists after one green day. It’s the talking heads on financial television, too, breathlessly celebrating the rebound and assuring everyone that buyers are back, confidence has returned, and the market has finally found its footing.
Market participants, definitely thinking for themselves
Apparently, a single day of rising stock prices is all it takes to erase whatever problems sent the market plunging in the first place.
Consider a NASDAQ that gets absolutely crushed by -5.5% one day like it did last week, only to come roaring back +3.7% the next like it did yesterday. The second day feels spectacular.
It feels like Jensen smoking a post-coital cigarillo with Alice Huang. You feel like king of the world. Screens are glowing green and the bulls are practically taking victory laps. “Eat a dick, bears,” retail traders who were in diapers when Lehman went bankrupt will say.
But here’s the problem people for some reason don’t notice: the market is still down almost 2% over those two days. The rebound hasn’t erased th
