if we are testing the 'hedge-against-bad-news' thesis, I think it holds up & the narrative would be:
a massive upsurge during the height of the case, followed by a dip when the supposed 'rescue plan' was announced, then a plateau but NOT (yet) a retreat
and if we follow Denninger, the rescue plan is a sick joke, so the market is perhaps just re-orienting itself and pausing for reflection ... awaiting the next big bad news ?
Unfortunately, because of a plague of spam comments, you need to be a "registered user", otherwise your observations will be buried in a torrent of multilingual nonsense. Please do comment!
Say what you please, so long as it's phrased politely and is not libellous or legally proscribed. Fact, reason and wit are keenly welcomed.
indeed you did, Sackers
ReplyDeleteif we are testing the 'hedge-against-bad-news' thesis, I think it holds up & the narrative would be:
a massive upsurge during the height of the case, followed by a dip when the supposed 'rescue plan' was announced, then a plateau but NOT (yet) a retreat
and if we follow Denninger, the rescue plan is a sick joke, so the market is perhaps just re-orienting itself and pausing for reflection ... awaiting the next big bad news ?
which, as you say, will surely come