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Some LOL commentary from David Zervos at Jefferies.Spain is not going to destroy the global financial system. That is almost as preposterous as commentators claiming that Charlie Plosser just caused the spoo to drop 2 per cent. Pulllease!! The market is going to rightly torture all the “johnny come lately” types who join risk-on party late. That is all that is going on here. Enjoy the read below. Good luck trading.
It’s well known that a lot of investors (hedge funds,e tc.) have lagged the market badly this year, and some have speculated that going into the final months of the year, there would be a big “catch up” push by investors desperate to hop on board.
And in the twisted way the market works, such moves often coincide with declines, as the “pain trade” switches direction.
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