What The Market Needs Now Is a Good Correction

All three could have-should have-caused the stock market to drop. "When the market opens back up and people have other things to do besides play the stock-market video game, maybe that is when a large reversal in [speculative tech stocks] happens," writes Evercore ISI strategist Dennis DeB...

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Bibliographic Details
Published in:Barron's 2021-01, Vol.101 (2), p.M1-M3
Main Authors: Levisohn, Ben, Jasiński, Nicholas
Format: Article
Language:English
Subjects:
Coronaviruses
COVID-19
COVID-19 vaccines
Employment
Energy industry
Investments
Options markets
Pandemics
Securities markets
Shelter in place
Stock exchanges
Technology stocks
Vaccines
Worry
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Summary:All three could have-should have-caused the stock market to drop. "When the market opens back up and people have other things to do besides play the stock-market video game, maybe that is when a large reversal in [speculative tech stocks] happens," writes Evercore ISI strategist Dennis DeBusschere, tongue planted firmly in cheek. Bank of America's Bull & Bear indicator hit 7.1 this past week, up from 6.7 in mid-December, and is getting ever closer to where the indicator starts to signal extreme bullishness. A Guide to Earnings Season JPMorgan Chase (JPM), Citigroup (C), and other U.S. banks are set to kick off fourth-quarter earnings season this coming week, and a majority of S&P 500 companies will follow them over the next month.
ISSN:1077-8039