#761 Oscar Carboni says “A Stock Market Summer Pullback?”
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19 Comments on “#761 Oscar Carboni says “A Stock Market Summer Pullback?””
RIP USA?
@Gillsing Yes, interests rates went down as people went to the safety of treasuries after the downgrade, but there are many investors all over the world who are only allowed to own AAA rated paper. If one more ratings agency downgrades, then the US government is no longer AAA rated. Those investors will be forced to sell US treasuries which will cause a collapse in the bond market, and a collapse in the US dollar.
@robertplant634 The economic outlook may not have changed that rapidly, but once people see the markets react to that outlook they all want to get out near the top, which explains the steep decline. Now, I’m not familiar with the bond market, but if the S&P downgrade truly mattered, wouldn’t interest rates go up, like they do for other countries when they get downgraded? I’ve heard that interests rates went down, because US treasuries are still considered a ‘safe harbour’.
sorry its not S&P500′s fault. Markets were already selling off before and signaling ahead.
they are lucky they didn’t downgrade them to single A not Double A
oscar….accept the facts and the downgrading…the us can never pay its debts off…
Good call Oscar. 1650 here we come.
@futuresanalysts nice burn
@Etcircenses
I WANT FREE advice, I WAN’t FREE studies. I WANT you to share all of your knowledge you’ve obtained over the past 29 years for FREE in these videos, BUT DON’T DARE ask traders to come to your FREE seminar.
The ratings agencies should have been dismantled after the MBS fiasco even flipping a coin would have produced a better record than triple A rating all that mortgage garbage. Anyway, on the charts nice work, good observation, repetitative patterns at its finest
Dear Oscar, I love your shows but 10 minutes of pure advertising is enough now. I won’t look at your show anymore.
“A Stock Market Summer Pullback?”
Like calling the Japanese tsunami a typical little wave.
The fact that the decline has been orderly indicates only that it is no where near over.
Institutions dont need S&P as they are watching the spreads and the bond markets themselves and know the political landscape so yes that is a joke.
The bull side of me is that pessimism is at highs, companies are trading below book value now sitting on tons of cash, and the market went into panic mode as did the computers and leveraged ETF’s. Congress and the G-7 should do something about HFT;s and leveraged ETF’s though as they create unnecessary volatility.
@Gillsing So you see markets fall off a cliff in such a short space of time because the economic outlook changes that rapidly? Of course the markets care about ratings agencies. If another ratings agency downgrades the US, then you will see armageddon… The market has pulled back on a number of factors: worsening economic figures, end of QE2, the world coming to terms with the Japan earthquake, European debt issues… and the ratings downgrades as well. To say that is irrelevant is ridiculous.
@Ostrogothstrings Well, the bond market completely humiliated them and showed how wrong they are. Thats probably why. 2 years are trading for about a tenth of a percent yield unbelievably low rates, and according to S&P they should be having record high intrest rates.
20% decline in 2 1/2 weeks is a pullback?..that’s amusing..
Why do you care what the rating agencies say? The market doesn’t appear to care. As far as I understand this drop in the stock markets it’s because people expect a worse economy in six months. And maybe China’s housing market is about to implode? “The fundamentals always come out in the charts first!” (Except when they don’t?)
Rating agencies has been tolerated until……..they hit US. Now they are bad. I have no opinion but why didn’t I hear any objections when other countries were downgraded?
Every patriot from all around the Globe should watch this video, especially the part related to rating agencies. They’ve done more damage to the World economy than AlQueeda and should be treated accordingly.