United States, Twenty Twenty Two Minutes discussed on CNBC's Fast Money


Market reaction i twenty twenty two minutes was actually in that direction was going up so we weren't thinking actually after the close in the red that will basically go up today didn't happen we had overnight selloff between two and three am if you look at the us future for some reason they go down smackdown pretty hard in the nighttime hours and that kind of spillover in the morning in us hours we broke through one hundred moving they average so i think some of these technical sellers look cpa's probably had to start selling along the way obviously there was there was a sort of announcement on terrorists and so some people do not wanna really step ahead of that once when the announcement came market rally and then sort of roll over and then we excel arated and i think the alerts were short on the downside it's put options you basically slice through the put option strike to stop losses and it was just very disappointing they so so so so that certainly is is not a positive development but we think nothing fundamentally has changed you know so we are ahead of us is a very strong earnings season in april global growth is decent it's strong you know we think sort of second third their relatives of growth i don't think it matters as much it's solid and it's consistent across different regions and basically february we had the quite a bit of de risking already in february so when we look at the beta of hedge funds when we look at where the systematic strategies are in terms of their leverage and basically it's much lower than in january right like so positionings better valuations now in two thousand nineteen earnings are fifteen and a half so we don't think that's a sort of expensive so we stick to our price of three thousand and we think we recovered probably during the accelerated sell off into the clothes.

Coming up next