There was a deluge of US data last week which traders took to be generally bullish for shares and positive for the economy. This the power of momentum at work. Actually, it doesn’t matter what the numbers were – if the consensus believes they justify
Tag: Joe Granville
Events and markets are moving very fast now. That is bringing in huge volatility where markets are turning on a dime. Large daily spikes up/down (and vice versa) are now common – such as yesterday’s (Friday) 800-pip spike up and then down roller coaster session in the Dow and the sharp reversal in the euro.
Bears are highly evolved social animals with intelligence comparable to that of the great apes. Bears often share friendship, resources and security. So is that why the Russian bear and the Wall Street bear have joined forces to do battle with the all-conquering Wall Street bull ( for security)?