Ken Sheinberg
Ken Sheinberg
fed laugh people portfolio
People get a little fed up and see their portfolio down significantly, and I always laugh to myself, because I still got paid.
economy-and-economics effect rate theory
The theory is that with rate increases, it doesn't effect the 'new economy' stocks.
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People get a little fed up and see their 401(k) money down 40 percent over the last year, so they start to freak out a little bit. It's a very emotional time and the market trades on emotion. I think a lot of people have lost their nest eggs, so do they want to lose more?
downward market middle negative positive pricing sharp situation within
Right now we're in the middle of the range, pricing in some positive news, and the market will be susceptible to negative news. We're in a situation where, within a downward move, you're going to have short, sharp rallies.
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I think it's triple witching activity. The move has been pretty impressive but the liquidity has been horrendous so it doesn't take a lot to move this market. There was a rather large asset allocation and when that got through, you had a lot of short covering and bottom fishing that just fed on itself.