Amid Meltup, Trader Warns ‘Not A Bad Time To Give Your Biases A Stress-Test’

Posted On August 28, 2018 12:36 pm

As the month draws to a close in the vinegar strokes of summer ‘holidays’, stocks are currently setting up for the second best August since 2009.

Despite the collapse of US economic data…

All on the back of an excited rebound in the Yuan (and Powell’s J-Hole speech)…

Still, as former fund manager and FX trader Richard Breslow notes, it’s only Tuesday and the month runs to the end of the week, but it’s hard not to start anticipating what asset prices might look like after we all get back from the summer’s last gasp bash.

Especially since people keep telling me to ignore all this price action because the real story will only be reflected in market levels starting in September.

Eugene Fama would get a huge kick out of reading these pieces.

And we might want to be a little more circumspect in so easily dismissing what we are all witnessing in plain view. It’s not the worst time to give your biases a stress test. The beginning of the year is the time for forecasts and fantasies. The fourth quarter is for getting it right because, in fact, your year depends upon it.

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 Related: Here’s How Wall Street Reacted to Tesla’s Flip-Flop

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