Home Economy Pension Panic Sparks Dow’s Greatest Point Rise In History

Pension Panic Sparks Dow’s Greatest Point Rise In History

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Where is Cooperman: “It’s all the algos’ fault the Dow is up 1000 points”

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Investors welcomed Kevin Hassett’s assurance that Jerome Powell’s job is “100 percent” safe.

But the biggest driver of today’s exuberance appears to be actual pension rebalancing or front-running the pension panic.

And today’s explosion comes just as CTAs turned short and hedge funds have the lowest net exposure to the market in 3 years…

And just like that a short-squeeze was enabled…the biggest short squeeze since the day after Brexit…

And stocks went vertical…Biggest daily gain in Nasdaq since Aug 2011

On March 3, 2009 Obama marked the end of the financial crash with these words:

“what you’re now seeing is profit and earning ratios are starting to get to the point where buying stocks is a potentially good deal if you’ve got a long-term perspective on it”

On Dec 25, 2018 did Trump mark the end of the rout with these words:

“We have companies, the greatest in the world, and they’re doing really well. They have record kinds of numbers. So I think it’s a tremendous opportunity to buy. Really a great opportunity to buy.”

Which followed a slide lower after excellent Plunge Protection from China’s National Team overnight…

As they all tried to explain, “all is well”…

Europe remains closed, celebrating Boxing Day.

This is the biggest Dow point rise in history…

Best day for bank stocks since April 2011…

 

But since The Fed hiked rates, stocks are still suffering…

via zerohedge

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