Goldman Says "Don't Buy This Dip" And Here's Why...

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Goldman Says "Don't Buy This Dip" And Here's Why...

zerohedge2021-07-20

At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest ...

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beankim
·2021-07-22
So wait?
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3
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- Sinktel:
  yes wait until they finished buying
  2021-07-23
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Meshaarias72
·2021-07-21
Like n comment pls
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littlespazo
·2021-07-21
Wow lucky I read this article..are the rest of you going to sell?
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1
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WinnerSG
·2021-07-21
Be careful out there!
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3
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- ccsq:
  All dip?
  2021-07-21
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飙高音
·2021-07-21
Hodl
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1
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- SSVC:
  Ok
  2021-07-21
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Rajeshd2331
·2021-07-21
Margin buyer
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LimLS
·2021-07-21
Too much noise out there that hinder our judgement. Skip the news that talks about daily market, and focus on bigger events that's coming like the FOMC meeting and debt ceiling during end July
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- RDPD富爸穷爸:
  ??
  2021-07-22
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- RonaldSTH:
  agree
  2021-07-21
  Reply
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STKG
·2021-07-21
Many noises out there.
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4
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- LimLS:
  Too much noise nowadays. Best to just not follow any finance news talks about stock market. Just follow the general economic news and the company earnings report and relevant news. That's enough.
  2021-07-21
  Reply
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RichyRick
·2021-07-21
Trade withthin your means
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7
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All in Tesla
·2021-07-21
They don’t want us to buy so that they can buy at low ?
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4
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DMC8
·2021-07-21
Awesome ?
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- arachno73:
  Like and comment back please. Thanks.
  2021-07-21
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dandroid
·2021-07-21
Wow
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1
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XiuJ
·2021-07-21
Like please
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3
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- XiuJ:
  Ok
  2021-07-21
  Reply
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- JeremyKok:
  hi. please like and comment back. thank you.
  2021-07-21
  Reply
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Sphere
·2021-07-21
Rubbish
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2
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- Sphere:
  Up
  2021-07-21
  Reply
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AnneSeow
·2021-07-21
Bullet
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13
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- SamLim:
  ?
  2021-07-21
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JoelSeah
·2021-07-21
Make your own judgement
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sook
·2021-07-21
It looks unpredictable. Depends on the virus and how people are responding. I think economists can't predict that
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Gaga71
·2021-07-21
Mostly lead by market sentiment guided by TA
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- PSYCHO82:
  Agreed
  2021-07-21
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- sook:
  agreed
  2021-07-21
  Reply
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我i168
·2021-07-21
Market has spoken...the opposite! [Happy] [Cool]
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6
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- Gaga71:
  TradE with caution
  2021-07-21
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replaygoh
·2021-07-21
okok
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1
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Negative Covid headlines are picking up in velocity. Issuance spigots are fully turned on and this paper is getting harder to place from my seat (after some choppy px action related to issuance last week).\n\n\n99% of S&P500 companies are in buyback blackout period into next week and quant flows remain asymmetric on the supply side (AKA CTA sellers will win this tug of war).Earnings last week were great but were not rewarded (banks)...this week and next are the 2 busiest weeks of the earnings period.\n\n\n Overall market breadth continues to dissipate with FAAMG complex carrying the weight of the indices on its back. July has not been a fun month for the retail community (underlying retail bid is fading). HF length has recently come in significantly on a 1 year look back but on a 3 year basis is well above 50th percentile for both nets and grosses (still more wood to chop here). Institutional community continues to cut risk in China ADR’s post DIDI development while U.S. / China tensions rise. All eyes remain 10yr yields well below 200dma of 1.26 for first time in 2021. No need to hit the panic button but I plan on being patient with buy tickets over the next several sessions.\n\nAnd here are the 10 keybearishdevelopments Flood is monitoring:\n1) Covid headlines over the weekend were the most negative that I have seen in 2021. Here are the 5 that stood out to me...\n\nU.S. infections surged more than 60% last week, topping a 16% global increase. Delta cases may be undercounted, former FDA chief Scott Gottlieb said. The Dr. warned that the US is “vastly underestimating” the level of COVID delta spread domestically.CNBC\nThe CDC warns of a “pandemic of the unvaccinated” as cases, hospitalizations, and fatalities rise in those parts of the country with low inoculation rates.BBG\nCDC says other major US cities will probably follow LA and reimpose mask mandates as COVID statistics continue to deteriorate.FT\nFirst Olympic athletes in Tokyo test positive for COVID, just days before the games are expected to commence (Coco Gauff the highest profile U.S. athlete to withdraw)\nThe UK said travelers from France will need to quarantine for 10 days regardless of vaccination status, an announcement that “leaves holidays in disarray”.London Times\n\n2) It has been a paper party and this paper is getting harder to place. Last week we priced 11 registered deals in the U.S. ($3b notional) and this week already working on another 18 ($10b). This is especially noteworthy while in the depths of July.\n3) Only 1 week into 2Q earnings but banks telling us to expect beats but NOT TO expect these beats to be rewarded. AKA sell sides estimates are still too low and positioning remains crowded. Since JPM kicked of megacap tech bank earnings last Tuesday morning (essentially beats across the board) bank index has shed 355bps.\n4) We are in depths of corporate buyback blackout period and this will run through 7/23/21....\n5) Systematic flows are asymmetric...(AKA CTAs are sellers in a up and down tape)....\n6) Market breadth continues to deteriorate (was at ATH of 100 last month)....\n7) AKA without recent stellar price action on FAAMG the market would be in some trouble...\n\n8) Tensions with China escalating and we see continued derisking in ADRs: The White House is accusing China of perpetrating a massive hack of Microsoft’s email systems and will form a coalition of NATO members to condemn Beijing’s cyber activities.NYT\n9) Retail support has been waning MTD....(GS HIGH RETAIL SENTIMENT BASKET)....\n\n10) On 1 year look back Fundamental L/S positioning has come in significantly....on a 3yr look back still elevated....","kind":null,"is_publish_news":false,"is_publish_highlight":true,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":176799227,"gmtCreate":1626914734069,"gmtModify":1703480426013,"author":{"id":"3568042901804000","authorId":"3568042901804000","name":"beankim","avatar":"https://static.tigerbbs.com/7e86bf0ae7dd84473464d6af842304eb","vip":1,"hat":"https://static.tigerbbs.com/f84d87792f02cf78e80ee34979fd31e5","crmLevel":6,"crmLevelSwitch":1},"htmlText":"So wait?&nbsp;","listText":"So wait?&nbsp;","text":"So wait?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/176799227","repostId":1188133258,"repostType":2,"repost":{"id":"1188133258","pubTimestamp":1626787650,"share":"https://www.laohu8.com/m/news/1188133258?lang=&edition=full","pubTime":"2021-07-20 21:27","market":"us","language":"en","title":"Goldman Says \"Don't Buy This Dip\" And Here's Why...","url":"https://stock-news.laohu8.com/highlight/detail?id=1188133258","media":"zerohedge","summary":"At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-we","content":"<p>At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest period for markets...</p>\n<p><img src=\"https://static.tigerbbs.com/e7dc88222112e4655f492c56509f9d64\" tg-width=\"1280\" tg-height=\"467\" referrerpolicy=\"no-referrer\"></p>\n<p>... and followed up with apredictionthat shorts will have to cover, which they did during a period in which we saw 13 out of 16 trading days hit new all time highs.</p>\n<p>Of course, it all came crashing down in the last 3 days when the S&amp;P slide accelerated, culminating with a scary rout on Monday when tumbling yields sparked a panic that the US economy is headed straight into a stagflationary crash.</p>\n<p>And yet, with futures rebounding and traders clearly showing a desire to catch what has been the fastest falling knife in months, we were surprised to read that the same John Flood who correctly predicted the market ramp in the first half of July, has now flipped completely and in a note published overnight writes \"<b>don't buy this dip.</b>\" He explains why:</p>\n<blockquote>\n I am a consistent buyer of dips but this wobble feels different and I am bracing for a weaker tape this week. Negative Covid headlines are picking up in velocity. Issuance spigots are fully turned on and this paper is getting harder to place from my seat (after some choppy px action related to issuance last week).\n</blockquote>\n<blockquote>\n <b>99% of S&amp;P500 companies are in buyback blackout period into next week and quant flows remain asymmetric on the supply side (AKA CTA sellers will win this tug of war).</b>Earnings last week were great but were not rewarded (banks)...this week and next are the 2 busiest weeks of the earnings period.\n</blockquote>\n<blockquote>\n Overall market breadth continues to dissipate with FAAMG complex carrying the weight of the indices on its back. July has not been a fun month for the retail community (underlying retail bid is fading). HF length has recently come in significantly on a 1 year look back but on a 3 year basis is well above 50th percentile for both nets and grosses (still more wood to chop here). Institutional community continues to cut risk in China ADR’s post DIDI development while U.S. / China tensions rise. All eyes remain 10yr yields well below 200dma of 1.26 for first time in 2021. No need to hit the panic button but I plan on being patient with buy tickets over the next several sessions.\n</blockquote>\n<p>And here are the 10 key<i>bearish</i>developments Flood is monitoring:</p>\n<p><b>1) Covid headlines over the weekend were the most negative that I have seen in 2021. Here are the 5 that stood out to me...</b></p>\n<ul>\n <li>U.S. infections surged more than 60% last week, topping a 16% global increase. Delta cases may be undercounted, former FDA chief Scott Gottlieb said. The Dr. warned that the US is “vastly underestimating” the level of COVID delta spread domestically.CNBC</li>\n <li>The CDC warns of a “pandemic of the unvaccinated” as cases, hospitalizations, and fatalities rise in those parts of the country with low inoculation rates.BBG</li>\n <li>CDC says other major US cities will probably follow LA and reimpose mask mandates as COVID statistics continue to deteriorate.FT</li>\n <li>First Olympic athletes in Tokyo test positive for COVID, just days before the games are expected to commence (Coco Gauff the highest profile U.S. athlete to withdraw)</li>\n <li>The UK said travelers from France will need to quarantine for 10 days regardless of vaccination status, an announcement that “leaves holidays in disarray”.London Times</li>\n</ul>\n<p><b>2) It has been a paper party and this paper is getting harder to place. Last week we priced 11 registered deals in the U.S. ($3b notional) and this week already working on another 18 ($10b). This is especially noteworthy while in the depths of July.</b></p>\n<p><b>3) Only 1 week into 2Q earnings but banks telling us to expect beats but NOT TO expect these beats to be rewarded. AKA sell sides estimates are still too low and positioning remains crowded. Since JPM kicked of megacap tech bank earnings last Tuesday morning (essentially beats across the board) bank index has shed 355bps.</b></p>\n<p><b>4) We are in depths of corporate buyback blackout period and this will run through 7/23/21....</b></p>\n<p><img src=\"https://static.tigerbbs.com/2aaf1e5d45694a097b50a91dbde1c820\" tg-width=\"500\" tg-height=\"271\" referrerpolicy=\"no-referrer\"><b>5) Systematic flows are asymmetric...(AKA CTAs are sellers in a up and down tape)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/4bba4d70220e9707ea2844810c1a10b2\" tg-width=\"866\" tg-height=\"381\" referrerpolicy=\"no-referrer\"><b>6) Market breadth continues to deteriorate (was at ATH of 100 last month)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/39de9052680301024db46173d0dce29f\" tg-width=\"507\" tg-height=\"405\" referrerpolicy=\"no-referrer\"><b>7) AKA without recent stellar price action on FAAMG the market would be in some trouble...</b></p>\n<p><img src=\"https://static.tigerbbs.com/0ae0c7eead73ad8dc2ecc63bcbd9e27e\" tg-width=\"500\" tg-height=\"385\" referrerpolicy=\"no-referrer\"></p>\n<p><b>8) Tensions with China escalating and we see continued derisking in ADRs: The White House is accusing China of perpetrating a massive hack of Microsoft’s email systems and will form a coalition of NATO members to condemn Beijing’s cyber activities.NYT</b></p>\n<p><b>9) Retail support has been waning MTD....(GS HIGH RETAIL SENTIMENT BASKET)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/91d1bdeccdbb13bda1edf2982fd29b9c\" tg-width=\"969\" tg-height=\"737\" width=\"100%\" height=\"auto\"></p>\n<p><b>1</b><b>0) On 1 year look back Fundamental L/S positioning has come in significantly....on a 3yr look back still elevated....</b></p>\n<p><img src=\"https://static.tigerbbs.com/588f67823e6fabf1df2586491f930477\" tg-width=\"912\" tg-height=\"105\" width=\"100%\" height=\"auto\"></p>","source":"lsy1583725640930","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Says \"Don't Buy This Dip\" And Here's Why...</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; 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height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Says \"Don't Buy This Dip\" And Here's Why...\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-20 21:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188133258","content_text":"At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest period for markets...\n\n... and followed up with apredictionthat shorts will have to cover, which they did during a period in which we saw 13 out of 16 trading days hit new all time highs.\nOf course, it all came crashing down in the last 3 days when the S&P slide accelerated, culminating with a scary rout on Monday when tumbling yields sparked a panic that the US economy is headed straight into a stagflationary crash.\nAnd yet, with futures rebounding and traders clearly showing a desire to catch what has been the fastest falling knife in months, we were surprised to read that the same John Flood who correctly predicted the market ramp in the first half of July, has now flipped completely and in a note published overnight writes \"don't buy this dip.\" He explains why:\n\n I am a consistent buyer of dips but this wobble feels different and I am bracing for a weaker tape this week. Negative Covid headlines are picking up in velocity. Issuance spigots are fully turned on and this paper is getting harder to place from my seat (after some choppy px action related to issuance last week).\n\n\n99% of S&P500 companies are in buyback blackout period into next week and quant flows remain asymmetric on the supply side (AKA CTA sellers will win this tug of war).Earnings last week were great but were not rewarded (banks)...this week and next are the 2 busiest weeks of the earnings period.\n\n\n Overall market breadth continues to dissipate with FAAMG complex carrying the weight of the indices on its back. July has not been a fun month for the retail community (underlying retail bid is fading). HF length has recently come in significantly on a 1 year look back but on a 3 year basis is well above 50th percentile for both nets and grosses (still more wood to chop here). Institutional community continues to cut risk in China ADR’s post DIDI development while U.S. / China tensions rise. All eyes remain 10yr yields well below 200dma of 1.26 for first time in 2021. No need to hit the panic button but I plan on being patient with buy tickets over the next several sessions.\n\nAnd here are the 10 keybearishdevelopments Flood is monitoring:\n1) Covid headlines over the weekend were the most negative that I have seen in 2021. Here are the 5 that stood out to me...\n\nU.S. infections surged more than 60% last week, topping a 16% global increase. Delta cases may be undercounted, former FDA chief Scott Gottlieb said. The Dr. warned that the US is “vastly underestimating” the level of COVID delta spread domestically.CNBC\nThe CDC warns of a “pandemic of the unvaccinated” as cases, hospitalizations, and fatalities rise in those parts of the country with low inoculation rates.BBG\nCDC says other major US cities will probably follow LA and reimpose mask mandates as COVID statistics continue to deteriorate.FT\nFirst Olympic athletes in Tokyo test positive for COVID, just days before the games are expected to commence (Coco Gauff the highest profile U.S. athlete to withdraw)\nThe UK said travelers from France will need to quarantine for 10 days regardless of vaccination status, an announcement that “leaves holidays in disarray”.London Times\n\n2) It has been a paper party and this paper is getting harder to place. Last week we priced 11 registered deals in the U.S. ($3b notional) and this week already working on another 18 ($10b). This is especially noteworthy while in the depths of July.\n3) Only 1 week into 2Q earnings but banks telling us to expect beats but NOT TO expect these beats to be rewarded. AKA sell sides estimates are still too low and positioning remains crowded. Since JPM kicked of megacap tech bank earnings last Tuesday morning (essentially beats across the board) bank index has shed 355bps.\n4) We are in depths of corporate buyback blackout period and this will run through 7/23/21....\n5) Systematic flows are asymmetric...(AKA CTAs are sellers in a up and down tape)....\n6) Market breadth continues to deteriorate (was at ATH of 100 last month)....\n7) AKA without recent stellar price action on FAAMG the market would be in some trouble...\n\n8) Tensions with China escalating and we see continued derisking in ADRs: The White House is accusing China of perpetrating a massive hack of Microsoft’s email systems and will form a coalition of NATO members to condemn Beijing’s cyber activities.NYT\n9) Retail support has been waning MTD....(GS HIGH RETAIL SENTIMENT BASKET)....\n\n10) On 1 year look back Fundamental L/S positioning has come in significantly....on a 3yr look back still elevated....","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5305308,"gmtCreate":1627037394894,"gmtModify":1663231375138,"authorId":3553486312989116,"author":{"id":3553486312989116,"authorId":3553486312989116,"name":"Sinktel","avatar":"https://static.tigerbbs.com/dded9bdf22ca014f2486ae356ebd46bb","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":176799227,"type":1,"supId":0,"prevId":0,"content":"yes wait until they finished buying","text":"yes wait until they finished buying","html":"yes wait until they finished buying"}],"langContent":"EN"},{"id":176178933,"gmtCreate":1626874627322,"gmtModify":1703479690106,"author":{"id":"3577781617271173","authorId":"3577781617271173","name":"Meshaarias72","avatar":"https://static.tigerbbs.com/c5282cda6a9d3948fc067b21adcb578c","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Like n comment pls","listText":"Like n comment pls","text":"Like n comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/176178933","repostId":1188133258,"repostType":4,"repost":{"id":"1188133258","pubTimestamp":1626787650,"share":"https://www.laohu8.com/m/news/1188133258?lang=&edition=full","pubTime":"2021-07-20 21:27","market":"us","language":"en","title":"Goldman Says \"Don't Buy This Dip\" And Here's Why...","url":"https://stock-news.laohu8.com/highlight/detail?id=1188133258","media":"zerohedge","summary":"At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-we","content":"<p>At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest period for markets...</p>\n<p><img src=\"https://static.tigerbbs.com/e7dc88222112e4655f492c56509f9d64\" tg-width=\"1280\" tg-height=\"467\" referrerpolicy=\"no-referrer\"></p>\n<p>... and followed up with apredictionthat shorts will have to cover, which they did during a period in which we saw 13 out of 16 trading days hit new all time highs.</p>\n<p>Of course, it all came crashing down in the last 3 days when the S&amp;P slide accelerated, culminating with a scary rout on Monday when tumbling yields sparked a panic that the US economy is headed straight into a stagflationary crash.</p>\n<p>And yet, with futures rebounding and traders clearly showing a desire to catch what has been the fastest falling knife in months, we were surprised to read that the same John Flood who correctly predicted the market ramp in the first half of July, has now flipped completely and in a note published overnight writes \"<b>don't buy this dip.</b>\" He explains why:</p>\n<blockquote>\n I am a consistent buyer of dips but this wobble feels different and I am bracing for a weaker tape this week. Negative Covid headlines are picking up in velocity. Issuance spigots are fully turned on and this paper is getting harder to place from my seat (after some choppy px action related to issuance last week).\n</blockquote>\n<blockquote>\n <b>99% of S&amp;P500 companies are in buyback blackout period into next week and quant flows remain asymmetric on the supply side (AKA CTA sellers will win this tug of war).</b>Earnings last week were great but were not rewarded (banks)...this week and next are the 2 busiest weeks of the earnings period.\n</blockquote>\n<blockquote>\n Overall market breadth continues to dissipate with FAAMG complex carrying the weight of the indices on its back. July has not been a fun month for the retail community (underlying retail bid is fading). HF length has recently come in significantly on a 1 year look back but on a 3 year basis is well above 50th percentile for both nets and grosses (still more wood to chop here). Institutional community continues to cut risk in China ADR’s post DIDI development while U.S. / China tensions rise. All eyes remain 10yr yields well below 200dma of 1.26 for first time in 2021. No need to hit the panic button but I plan on being patient with buy tickets over the next several sessions.\n</blockquote>\n<p>And here are the 10 key<i>bearish</i>developments Flood is monitoring:</p>\n<p><b>1) Covid headlines over the weekend were the most negative that I have seen in 2021. Here are the 5 that stood out to me...</b></p>\n<ul>\n <li>U.S. infections surged more than 60% last week, topping a 16% global increase. Delta cases may be undercounted, former FDA chief Scott Gottlieb said. The Dr. warned that the US is “vastly underestimating” the level of COVID delta spread domestically.CNBC</li>\n <li>The CDC warns of a “pandemic of the unvaccinated” as cases, hospitalizations, and fatalities rise in those parts of the country with low inoculation rates.BBG</li>\n <li>CDC says other major US cities will probably follow LA and reimpose mask mandates as COVID statistics continue to deteriorate.FT</li>\n <li>First Olympic athletes in Tokyo test positive for COVID, just days before the games are expected to commence (Coco Gauff the highest profile U.S. athlete to withdraw)</li>\n <li>The UK said travelers from France will need to quarantine for 10 days regardless of vaccination status, an announcement that “leaves holidays in disarray”.London Times</li>\n</ul>\n<p><b>2) It has been a paper party and this paper is getting harder to place. Last week we priced 11 registered deals in the U.S. ($3b notional) and this week already working on another 18 ($10b). This is especially noteworthy while in the depths of July.</b></p>\n<p><b>3) Only 1 week into 2Q earnings but banks telling us to expect beats but NOT TO expect these beats to be rewarded. AKA sell sides estimates are still too low and positioning remains crowded. Since JPM kicked of megacap tech bank earnings last Tuesday morning (essentially beats across the board) bank index has shed 355bps.</b></p>\n<p><b>4) We are in depths of corporate buyback blackout period and this will run through 7/23/21....</b></p>\n<p><img src=\"https://static.tigerbbs.com/2aaf1e5d45694a097b50a91dbde1c820\" tg-width=\"500\" tg-height=\"271\" referrerpolicy=\"no-referrer\"><b>5) Systematic flows are asymmetric...(AKA CTAs are sellers in a up and down tape)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/4bba4d70220e9707ea2844810c1a10b2\" tg-width=\"866\" tg-height=\"381\" referrerpolicy=\"no-referrer\"><b>6) Market breadth continues to deteriorate (was at ATH of 100 last month)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/39de9052680301024db46173d0dce29f\" tg-width=\"507\" tg-height=\"405\" referrerpolicy=\"no-referrer\"><b>7) AKA without recent stellar price action on FAAMG the market would be in some trouble...</b></p>\n<p><img src=\"https://static.tigerbbs.com/0ae0c7eead73ad8dc2ecc63bcbd9e27e\" tg-width=\"500\" tg-height=\"385\" referrerpolicy=\"no-referrer\"></p>\n<p><b>8) Tensions with China escalating and we see continued derisking in ADRs: The White House is accusing China of perpetrating a massive hack of Microsoft’s email systems and will form a coalition of NATO members to condemn Beijing’s cyber activities.NYT</b></p>\n<p><b>9) Retail support has been waning MTD....(GS HIGH RETAIL SENTIMENT BASKET)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/91d1bdeccdbb13bda1edf2982fd29b9c\" tg-width=\"969\" tg-height=\"737\" width=\"100%\" height=\"auto\"></p>\n<p><b>1</b><b>0) On 1 year look back Fundamental L/S positioning has come in significantly....on a 3yr look back still elevated....</b></p>\n<p><img src=\"https://static.tigerbbs.com/588f67823e6fabf1df2586491f930477\" tg-width=\"912\" tg-height=\"105\" width=\"100%\" height=\"auto\"></p>","source":"lsy1583725640930","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Says \"Don't Buy This Dip\" And Here's Why...</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Says \"Don't Buy This Dip\" And Here's Why...\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-20 21:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188133258","content_text":"At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest period for markets...\n\n... and followed up with apredictionthat shorts will have to cover, which they did during a period in which we saw 13 out of 16 trading days hit new all time highs.\nOf course, it all came crashing down in the last 3 days when the S&P slide accelerated, culminating with a scary rout on Monday when tumbling yields sparked a panic that the US economy is headed straight into a stagflationary crash.\nAnd yet, with futures rebounding and traders clearly showing a desire to catch what has been the fastest falling knife in months, we were surprised to read that the same John Flood who correctly predicted the market ramp in the first half of July, has now flipped completely and in a note published overnight writes \"don't buy this dip.\" He explains why:\n\n I am a consistent buyer of dips but this wobble feels different and I am bracing for a weaker tape this week. Negative Covid headlines are picking up in velocity. Issuance spigots are fully turned on and this paper is getting harder to place from my seat (after some choppy px action related to issuance last week).\n\n\n99% of S&P500 companies are in buyback blackout period into next week and quant flows remain asymmetric on the supply side (AKA CTA sellers will win this tug of war).Earnings last week were great but were not rewarded (banks)...this week and next are the 2 busiest weeks of the earnings period.\n\n\n Overall market breadth continues to dissipate with FAAMG complex carrying the weight of the indices on its back. July has not been a fun month for the retail community (underlying retail bid is fading). HF length has recently come in significantly on a 1 year look back but on a 3 year basis is well above 50th percentile for both nets and grosses (still more wood to chop here). Institutional community continues to cut risk in China ADR’s post DIDI development while U.S. / China tensions rise. All eyes remain 10yr yields well below 200dma of 1.26 for first time in 2021. No need to hit the panic button but I plan on being patient with buy tickets over the next several sessions.\n\nAnd here are the 10 keybearishdevelopments Flood is monitoring:\n1) Covid headlines over the weekend were the most negative that I have seen in 2021. Here are the 5 that stood out to me...\n\nU.S. infections surged more than 60% last week, topping a 16% global increase. Delta cases may be undercounted, former FDA chief Scott Gottlieb said. The Dr. warned that the US is “vastly underestimating” the level of COVID delta spread domestically.CNBC\nThe CDC warns of a “pandemic of the unvaccinated” as cases, hospitalizations, and fatalities rise in those parts of the country with low inoculation rates.BBG\nCDC says other major US cities will probably follow LA and reimpose mask mandates as COVID statistics continue to deteriorate.FT\nFirst Olympic athletes in Tokyo test positive for COVID, just days before the games are expected to commence (Coco Gauff the highest profile U.S. athlete to withdraw)\nThe UK said travelers from France will need to quarantine for 10 days regardless of vaccination status, an announcement that “leaves holidays in disarray”.London Times\n\n2) It has been a paper party and this paper is getting harder to place. Last week we priced 11 registered deals in the U.S. ($3b notional) and this week already working on another 18 ($10b). This is especially noteworthy while in the depths of July.\n3) Only 1 week into 2Q earnings but banks telling us to expect beats but NOT TO expect these beats to be rewarded. AKA sell sides estimates are still too low and positioning remains crowded. Since JPM kicked of megacap tech bank earnings last Tuesday morning (essentially beats across the board) bank index has shed 355bps.\n4) We are in depths of corporate buyback blackout period and this will run through 7/23/21....\n5) Systematic flows are asymmetric...(AKA CTAs are sellers in a up and down tape)....\n6) Market breadth continues to deteriorate (was at ATH of 100 last month)....\n7) AKA without recent stellar price action on FAAMG the market would be in some trouble...\n\n8) Tensions with China escalating and we see continued derisking in ADRs: The White House is accusing China of perpetrating a massive hack of Microsoft’s email systems and will form a coalition of NATO members to condemn Beijing’s cyber activities.NYT\n9) Retail support has been waning MTD....(GS HIGH RETAIL SENTIMENT BASKET)....\n\n10) On 1 year look back Fundamental L/S positioning has come in significantly....on a 3yr look back still elevated....","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":178792039,"gmtCreate":1626835747921,"gmtModify":1703766123878,"author":{"id":"3576806695783495","authorId":"3576806695783495","name":"littlespazo","avatar":"https://static.tigerbbs.com/57af1ce5bfc456006c8810d511b368a9","vip":1,"crmLevel":4,"crmLevelSwitch":1},"htmlText":"Wow lucky I read this article..are the rest of you going to sell?","listText":"Wow lucky I read this article..are the rest of you going to sell?","text":"Wow lucky I read this article..are the rest of you going to sell?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/178792039","repostId":1188133258,"repostType":4,"repost":{"id":"1188133258","pubTimestamp":1626787650,"share":"https://www.laohu8.com/m/news/1188133258?lang=&edition=full","pubTime":"2021-07-20 21:27","market":"us","language":"en","title":"Goldman Says \"Don't Buy This Dip\" And Here's Why...","url":"https://stock-news.laohu8.com/highlight/detail?id=1188133258","media":"zerohedge","summary":"At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-we","content":"<p>At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest period for markets...</p>\n<p><img src=\"https://static.tigerbbs.com/e7dc88222112e4655f492c56509f9d64\" tg-width=\"1280\" tg-height=\"467\" referrerpolicy=\"no-referrer\"></p>\n<p>... and followed up with apredictionthat shorts will have to cover, which they did during a period in which we saw 13 out of 16 trading days hit new all time highs.</p>\n<p>Of course, it all came crashing down in the last 3 days when the S&amp;P slide accelerated, culminating with a scary rout on Monday when tumbling yields sparked a panic that the US economy is headed straight into a stagflationary crash.</p>\n<p>And yet, with futures rebounding and traders clearly showing a desire to catch what has been the fastest falling knife in months, we were surprised to read that the same John Flood who correctly predicted the market ramp in the first half of July, has now flipped completely and in a note published overnight writes \"<b>don't buy this dip.</b>\" He explains why:</p>\n<blockquote>\n I am a consistent buyer of dips but this wobble feels different and I am bracing for a weaker tape this week. Negative Covid headlines are picking up in velocity. Issuance spigots are fully turned on and this paper is getting harder to place from my seat (after some choppy px action related to issuance last week).\n</blockquote>\n<blockquote>\n <b>99% of S&amp;P500 companies are in buyback blackout period into next week and quant flows remain asymmetric on the supply side (AKA CTA sellers will win this tug of war).</b>Earnings last week were great but were not rewarded (banks)...this week and next are the 2 busiest weeks of the earnings period.\n</blockquote>\n<blockquote>\n Overall market breadth continues to dissipate with FAAMG complex carrying the weight of the indices on its back. July has not been a fun month for the retail community (underlying retail bid is fading). HF length has recently come in significantly on a 1 year look back but on a 3 year basis is well above 50th percentile for both nets and grosses (still more wood to chop here). Institutional community continues to cut risk in China ADR’s post DIDI development while U.S. / China tensions rise. All eyes remain 10yr yields well below 200dma of 1.26 for first time in 2021. No need to hit the panic button but I plan on being patient with buy tickets over the next several sessions.\n</blockquote>\n<p>And here are the 10 key<i>bearish</i>developments Flood is monitoring:</p>\n<p><b>1) Covid headlines over the weekend were the most negative that I have seen in 2021. Here are the 5 that stood out to me...</b></p>\n<ul>\n <li>U.S. infections surged more than 60% last week, topping a 16% global increase. Delta cases may be undercounted, former FDA chief Scott Gottlieb said. The Dr. warned that the US is “vastly underestimating” the level of COVID delta spread domestically.CNBC</li>\n <li>The CDC warns of a “pandemic of the unvaccinated” as cases, hospitalizations, and fatalities rise in those parts of the country with low inoculation rates.BBG</li>\n <li>CDC says other major US cities will probably follow LA and reimpose mask mandates as COVID statistics continue to deteriorate.FT</li>\n <li>First Olympic athletes in Tokyo test positive for COVID, just days before the games are expected to commence (Coco Gauff the highest profile U.S. athlete to withdraw)</li>\n <li>The UK said travelers from France will need to quarantine for 10 days regardless of vaccination status, an announcement that “leaves holidays in disarray”.London Times</li>\n</ul>\n<p><b>2) It has been a paper party and this paper is getting harder to place. Last week we priced 11 registered deals in the U.S. ($3b notional) and this week already working on another 18 ($10b). This is especially noteworthy while in the depths of July.</b></p>\n<p><b>3) Only 1 week into 2Q earnings but banks telling us to expect beats but NOT TO expect these beats to be rewarded. AKA sell sides estimates are still too low and positioning remains crowded. Since JPM kicked of megacap tech bank earnings last Tuesday morning (essentially beats across the board) bank index has shed 355bps.</b></p>\n<p><b>4) We are in depths of corporate buyback blackout period and this will run through 7/23/21....</b></p>\n<p><img src=\"https://static.tigerbbs.com/2aaf1e5d45694a097b50a91dbde1c820\" tg-width=\"500\" tg-height=\"271\" referrerpolicy=\"no-referrer\"><b>5) Systematic flows are asymmetric...(AKA CTAs are sellers in a up and down tape)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/4bba4d70220e9707ea2844810c1a10b2\" tg-width=\"866\" tg-height=\"381\" referrerpolicy=\"no-referrer\"><b>6) Market breadth continues to deteriorate (was at ATH of 100 last month)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/39de9052680301024db46173d0dce29f\" tg-width=\"507\" tg-height=\"405\" referrerpolicy=\"no-referrer\"><b>7) AKA without recent stellar price action on FAAMG the market would be in some trouble...</b></p>\n<p><img src=\"https://static.tigerbbs.com/0ae0c7eead73ad8dc2ecc63bcbd9e27e\" tg-width=\"500\" tg-height=\"385\" referrerpolicy=\"no-referrer\"></p>\n<p><b>8) Tensions with China escalating and we see continued derisking in ADRs: The White House is accusing China of perpetrating a massive hack of Microsoft’s email systems and will form a coalition of NATO members to condemn Beijing’s cyber activities.NYT</b></p>\n<p><b>9) Retail support has been waning MTD....(GS HIGH RETAIL SENTIMENT BASKET)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/91d1bdeccdbb13bda1edf2982fd29b9c\" tg-width=\"969\" tg-height=\"737\" width=\"100%\" height=\"auto\"></p>\n<p><b>1</b><b>0) On 1 year look back Fundamental L/S positioning has come in significantly....on a 3yr look back still elevated....</b></p>\n<p><img src=\"https://static.tigerbbs.com/588f67823e6fabf1df2586491f930477\" tg-width=\"912\" tg-height=\"105\" width=\"100%\" height=\"auto\"></p>","source":"lsy1583725640930","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Says \"Don't Buy This Dip\" And Here's Why...</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Says \"Don't Buy This Dip\" And Here's Why...\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-20 21:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188133258","content_text":"At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest period for markets...\n\n... and followed up with apredictionthat shorts will have to cover, which they did during a period in which we saw 13 out of 16 trading days hit new all time highs.\nOf course, it all came crashing down in the last 3 days when the S&P slide accelerated, culminating with a scary rout on Monday when tumbling yields sparked a panic that the US economy is headed straight into a stagflationary crash.\nAnd yet, with futures rebounding and traders clearly showing a desire to catch what has been the fastest falling knife in months, we were surprised to read that the same John Flood who correctly predicted the market ramp in the first half of July, has now flipped completely and in a note published overnight writes \"don't buy this dip.\" He explains why:\n\n I am a consistent buyer of dips but this wobble feels different and I am bracing for a weaker tape this week. Negative Covid headlines are picking up in velocity. Issuance spigots are fully turned on and this paper is getting harder to place from my seat (after some choppy px action related to issuance last week).\n\n\n99% of S&P500 companies are in buyback blackout period into next week and quant flows remain asymmetric on the supply side (AKA CTA sellers will win this tug of war).Earnings last week were great but were not rewarded (banks)...this week and next are the 2 busiest weeks of the earnings period.\n\n\n Overall market breadth continues to dissipate with FAAMG complex carrying the weight of the indices on its back. July has not been a fun month for the retail community (underlying retail bid is fading). HF length has recently come in significantly on a 1 year look back but on a 3 year basis is well above 50th percentile for both nets and grosses (still more wood to chop here). Institutional community continues to cut risk in China ADR’s post DIDI development while U.S. / China tensions rise. All eyes remain 10yr yields well below 200dma of 1.26 for first time in 2021. No need to hit the panic button but I plan on being patient with buy tickets over the next several sessions.\n\nAnd here are the 10 keybearishdevelopments Flood is monitoring:\n1) Covid headlines over the weekend were the most negative that I have seen in 2021. Here are the 5 that stood out to me...\n\nU.S. infections surged more than 60% last week, topping a 16% global increase. Delta cases may be undercounted, former FDA chief Scott Gottlieb said. The Dr. warned that the US is “vastly underestimating” the level of COVID delta spread domestically.CNBC\nThe CDC warns of a “pandemic of the unvaccinated” as cases, hospitalizations, and fatalities rise in those parts of the country with low inoculation rates.BBG\nCDC says other major US cities will probably follow LA and reimpose mask mandates as COVID statistics continue to deteriorate.FT\nFirst Olympic athletes in Tokyo test positive for COVID, just days before the games are expected to commence (Coco Gauff the highest profile U.S. athlete to withdraw)\nThe UK said travelers from France will need to quarantine for 10 days regardless of vaccination status, an announcement that “leaves holidays in disarray”.London Times\n\n2) It has been a paper party and this paper is getting harder to place. Last week we priced 11 registered deals in the U.S. ($3b notional) and this week already working on another 18 ($10b). This is especially noteworthy while in the depths of July.\n3) Only 1 week into 2Q earnings but banks telling us to expect beats but NOT TO expect these beats to be rewarded. AKA sell sides estimates are still too low and positioning remains crowded. Since JPM kicked of megacap tech bank earnings last Tuesday morning (essentially beats across the board) bank index has shed 355bps.\n4) We are in depths of corporate buyback blackout period and this will run through 7/23/21....\n5) Systematic flows are asymmetric...(AKA CTAs are sellers in a up and down tape)....\n6) Market breadth continues to deteriorate (was at ATH of 100 last month)....\n7) AKA without recent stellar price action on FAAMG the market would be in some trouble...\n\n8) Tensions with China escalating and we see continued derisking in ADRs: The White House is accusing China of perpetrating a massive hack of Microsoft’s email systems and will form a coalition of NATO members to condemn Beijing’s cyber activities.NYT\n9) Retail support has been waning MTD....(GS HIGH RETAIL SENTIMENT BASKET)....\n\n10) On 1 year look back Fundamental L/S positioning has come in significantly....on a 3yr look back still elevated....","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":178438393,"gmtCreate":1626831017412,"gmtModify":1703765996583,"author":{"id":"3585538024677143","authorId":"3585538024677143","name":"WinnerSG","avatar":"https://static.tigerbbs.com/f748cf37b7a34ee47884ee19e105d382","vip":1,"crmLevel":7,"crmLevelSwitch":1},"htmlText":"Be careful out there!&nbsp;","listText":"Be careful out there!&nbsp;","text":"Be careful out there!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/178438393","repostId":1188133258,"repostType":4,"repost":{"id":"1188133258","pubTimestamp":1626787650,"share":"https://www.laohu8.com/m/news/1188133258?lang=&edition=full","pubTime":"2021-07-20 21:27","market":"us","language":"en","title":"Goldman Says \"Don't Buy This Dip\" And Here's Why...","url":"https://stock-news.laohu8.com/highlight/detail?id=1188133258","media":"zerohedge","summary":"At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-we","content":"<p>At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest period for markets...</p>\n<p><img src=\"https://static.tigerbbs.com/e7dc88222112e4655f492c56509f9d64\" tg-width=\"1280\" tg-height=\"467\" referrerpolicy=\"no-referrer\"></p>\n<p>... and followed up with apredictionthat shorts will have to cover, which they did during a period in which we saw 13 out of 16 trading days hit new all time highs.</p>\n<p>Of course, it all came crashing down in the last 3 days when the S&amp;P slide accelerated, culminating with a scary rout on Monday when tumbling yields sparked a panic that the US economy is headed straight into a stagflationary crash.</p>\n<p>And yet, with futures rebounding and traders clearly showing a desire to catch what has been the fastest falling knife in months, we were surprised to read that the same John Flood who correctly predicted the market ramp in the first half of July, has now flipped completely and in a note published overnight writes \"<b>don't buy this dip.</b>\" He explains why:</p>\n<blockquote>\n I am a consistent buyer of dips but this wobble feels different and I am bracing for a weaker tape this week. Negative Covid headlines are picking up in velocity. Issuance spigots are fully turned on and this paper is getting harder to place from my seat (after some choppy px action related to issuance last week).\n</blockquote>\n<blockquote>\n <b>99% of S&amp;P500 companies are in buyback blackout period into next week and quant flows remain asymmetric on the supply side (AKA CTA sellers will win this tug of war).</b>Earnings last week were great but were not rewarded (banks)...this week and next are the 2 busiest weeks of the earnings period.\n</blockquote>\n<blockquote>\n Overall market breadth continues to dissipate with FAAMG complex carrying the weight of the indices on its back. July has not been a fun month for the retail community (underlying retail bid is fading). HF length has recently come in significantly on a 1 year look back but on a 3 year basis is well above 50th percentile for both nets and grosses (still more wood to chop here). Institutional community continues to cut risk in China ADR’s post DIDI development while U.S. / China tensions rise. All eyes remain 10yr yields well below 200dma of 1.26 for first time in 2021. No need to hit the panic button but I plan on being patient with buy tickets over the next several sessions.\n</blockquote>\n<p>And here are the 10 key<i>bearish</i>developments Flood is monitoring:</p>\n<p><b>1) Covid headlines over the weekend were the most negative that I have seen in 2021. Here are the 5 that stood out to me...</b></p>\n<ul>\n <li>U.S. infections surged more than 60% last week, topping a 16% global increase. Delta cases may be undercounted, former FDA chief Scott Gottlieb said. The Dr. warned that the US is “vastly underestimating” the level of COVID delta spread domestically.CNBC</li>\n <li>The CDC warns of a “pandemic of the unvaccinated” as cases, hospitalizations, and fatalities rise in those parts of the country with low inoculation rates.BBG</li>\n <li>CDC says other major US cities will probably follow LA and reimpose mask mandates as COVID statistics continue to deteriorate.FT</li>\n <li>First Olympic athletes in Tokyo test positive for COVID, just days before the games are expected to commence (Coco Gauff the highest profile U.S. athlete to withdraw)</li>\n <li>The UK said travelers from France will need to quarantine for 10 days regardless of vaccination status, an announcement that “leaves holidays in disarray”.London Times</li>\n</ul>\n<p><b>2) It has been a paper party and this paper is getting harder to place. Last week we priced 11 registered deals in the U.S. ($3b notional) and this week already working on another 18 ($10b). This is especially noteworthy while in the depths of July.</b></p>\n<p><b>3) Only 1 week into 2Q earnings but banks telling us to expect beats but NOT TO expect these beats to be rewarded. AKA sell sides estimates are still too low and positioning remains crowded. Since JPM kicked of megacap tech bank earnings last Tuesday morning (essentially beats across the board) bank index has shed 355bps.</b></p>\n<p><b>4) We are in depths of corporate buyback blackout period and this will run through 7/23/21....</b></p>\n<p><img src=\"https://static.tigerbbs.com/2aaf1e5d45694a097b50a91dbde1c820\" tg-width=\"500\" tg-height=\"271\" referrerpolicy=\"no-referrer\"><b>5) Systematic flows are asymmetric...(AKA CTAs are sellers in a up and down tape)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/4bba4d70220e9707ea2844810c1a10b2\" tg-width=\"866\" tg-height=\"381\" referrerpolicy=\"no-referrer\"><b>6) Market breadth continues to deteriorate (was at ATH of 100 last month)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/39de9052680301024db46173d0dce29f\" tg-width=\"507\" tg-height=\"405\" referrerpolicy=\"no-referrer\"><b>7) AKA without recent stellar price action on FAAMG the market would be in some trouble...</b></p>\n<p><img src=\"https://static.tigerbbs.com/0ae0c7eead73ad8dc2ecc63bcbd9e27e\" tg-width=\"500\" tg-height=\"385\" referrerpolicy=\"no-referrer\"></p>\n<p><b>8) Tensions with China escalating and we see continued derisking in ADRs: The White House is accusing China of perpetrating a massive hack of Microsoft’s email systems and will form a coalition of NATO members to condemn Beijing’s cyber activities.NYT</b></p>\n<p><b>9) Retail support has been waning MTD....(GS HIGH RETAIL SENTIMENT BASKET)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/91d1bdeccdbb13bda1edf2982fd29b9c\" tg-width=\"969\" tg-height=\"737\" width=\"100%\" height=\"auto\"></p>\n<p><b>1</b><b>0) On 1 year look back Fundamental L/S positioning has come in significantly....on a 3yr look back still elevated....</b></p>\n<p><img src=\"https://static.tigerbbs.com/588f67823e6fabf1df2586491f930477\" tg-width=\"912\" tg-height=\"105\" width=\"100%\" height=\"auto\"></p>","source":"lsy1583725640930","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Says \"Don't Buy This Dip\" And Here's Why...</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Says \"Don't Buy This Dip\" And Here's Why...\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-20 21:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188133258","content_text":"At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest period for markets...\n\n... and followed up with apredictionthat shorts will have to cover, which they did during a period in which we saw 13 out of 16 trading days hit new all time highs.\nOf course, it all came crashing down in the last 3 days when the S&P slide accelerated, culminating with a scary rout on Monday when tumbling yields sparked a panic that the US economy is headed straight into a stagflationary crash.\nAnd yet, with futures rebounding and traders clearly showing a desire to catch what has been the fastest falling knife in months, we were surprised to read that the same John Flood who correctly predicted the market ramp in the first half of July, has now flipped completely and in a note published overnight writes \"don't buy this dip.\" He explains why:\n\n I am a consistent buyer of dips but this wobble feels different and I am bracing for a weaker tape this week. Negative Covid headlines are picking up in velocity. Issuance spigots are fully turned on and this paper is getting harder to place from my seat (after some choppy px action related to issuance last week).\n\n\n99% of S&P500 companies are in buyback blackout period into next week and quant flows remain asymmetric on the supply side (AKA CTA sellers will win this tug of war).Earnings last week were great but were not rewarded (banks)...this week and next are the 2 busiest weeks of the earnings period.\n\n\n Overall market breadth continues to dissipate with FAAMG complex carrying the weight of the indices on its back. July has not been a fun month for the retail community (underlying retail bid is fading). HF length has recently come in significantly on a 1 year look back but on a 3 year basis is well above 50th percentile for both nets and grosses (still more wood to chop here). Institutional community continues to cut risk in China ADR’s post DIDI development while U.S. / China tensions rise. All eyes remain 10yr yields well below 200dma of 1.26 for first time in 2021. No need to hit the panic button but I plan on being patient with buy tickets over the next several sessions.\n\nAnd here are the 10 keybearishdevelopments Flood is monitoring:\n1) Covid headlines over the weekend were the most negative that I have seen in 2021. Here are the 5 that stood out to me...\n\nU.S. infections surged more than 60% last week, topping a 16% global increase. Delta cases may be undercounted, former FDA chief Scott Gottlieb said. The Dr. warned that the US is “vastly underestimating” the level of COVID delta spread domestically.CNBC\nThe CDC warns of a “pandemic of the unvaccinated” as cases, hospitalizations, and fatalities rise in those parts of the country with low inoculation rates.BBG\nCDC says other major US cities will probably follow LA and reimpose mask mandates as COVID statistics continue to deteriorate.FT\nFirst Olympic athletes in Tokyo test positive for COVID, just days before the games are expected to commence (Coco Gauff the highest profile U.S. athlete to withdraw)\nThe UK said travelers from France will need to quarantine for 10 days regardless of vaccination status, an announcement that “leaves holidays in disarray”.London Times\n\n2) It has been a paper party and this paper is getting harder to place. Last week we priced 11 registered deals in the U.S. ($3b notional) and this week already working on another 18 ($10b). This is especially noteworthy while in the depths of July.\n3) Only 1 week into 2Q earnings but banks telling us to expect beats but NOT TO expect these beats to be rewarded. AKA sell sides estimates are still too low and positioning remains crowded. Since JPM kicked of megacap tech bank earnings last Tuesday morning (essentially beats across the board) bank index has shed 355bps.\n4) We are in depths of corporate buyback blackout period and this will run through 7/23/21....\n5) Systematic flows are asymmetric...(AKA CTAs are sellers in a up and down tape)....\n6) Market breadth continues to deteriorate (was at ATH of 100 last month)....\n7) AKA without recent stellar price action on FAAMG the market would be in some trouble...\n\n8) Tensions with China escalating and we see continued derisking in ADRs: The White House is accusing China of perpetrating a massive hack of Microsoft’s email systems and will form a coalition of NATO members to condemn Beijing’s cyber activities.NYT\n9) Retail support has been waning MTD....(GS HIGH RETAIL SENTIMENT BASKET)....\n\n10) On 1 year look back Fundamental L/S positioning has come in significantly....on a 3yr look back still elevated....","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5280418,"gmtCreate":1626845312562,"gmtModify":1663231252236,"authorId":3567441078926935,"author":{"id":3567441078926935,"authorId":3567441078926935,"name":"ccsq","avatar":"https://static.tigerbbs.com/d235945db264d135b221bb3b41076cfe","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":178438393,"type":1,"supId":0,"prevId":0,"content":"All dip?","text":"All dip?","html":"All dip?"}],"langContent":"EN"},{"id":178430197,"gmtCreate":1626830870619,"gmtModify":1703765990760,"author":{"id":"3582709856792743","authorId":"3582709856792743","name":"飙高音","avatar":"https://static.tigerbbs.com/475b76d560816b91289272c06ae8dfff","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Hodl","listText":"Hodl","text":"Hodl","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/178430197","repostId":1188133258,"repostType":4,"repost":{"id":"1188133258","pubTimestamp":1626787650,"share":"https://www.laohu8.com/m/news/1188133258?lang=&edition=full","pubTime":"2021-07-20 21:27","market":"us","language":"en","title":"Goldman Says \"Don't Buy This Dip\" And Here's Why...","url":"https://stock-news.laohu8.com/highlight/detail?id=1188133258","media":"zerohedge","summary":"At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-we","content":"<p>At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest period for markets...</p>\n<p><img src=\"https://static.tigerbbs.com/e7dc88222112e4655f492c56509f9d64\" tg-width=\"1280\" tg-height=\"467\" referrerpolicy=\"no-referrer\"></p>\n<p>... and followed up with apredictionthat shorts will have to cover, which they did during a period in which we saw 13 out of 16 trading days hit new all time highs.</p>\n<p>Of course, it all came crashing down in the last 3 days when the S&amp;P slide accelerated, culminating with a scary rout on Monday when tumbling yields sparked a panic that the US economy is headed straight into a stagflationary crash.</p>\n<p>And yet, with futures rebounding and traders clearly showing a desire to catch what has been the fastest falling knife in months, we were surprised to read that the same John Flood who correctly predicted the market ramp in the first half of July, has now flipped completely and in a note published overnight writes \"<b>don't buy this dip.</b>\" He explains why:</p>\n<blockquote>\n I am a consistent buyer of dips but this wobble feels different and I am bracing for a weaker tape this week. Negative Covid headlines are picking up in velocity. Issuance spigots are fully turned on and this paper is getting harder to place from my seat (after some choppy px action related to issuance last week).\n</blockquote>\n<blockquote>\n <b>99% of S&amp;P500 companies are in buyback blackout period into next week and quant flows remain asymmetric on the supply side (AKA CTA sellers will win this tug of war).</b>Earnings last week were great but were not rewarded (banks)...this week and next are the 2 busiest weeks of the earnings period.\n</blockquote>\n<blockquote>\n Overall market breadth continues to dissipate with FAAMG complex carrying the weight of the indices on its back. July has not been a fun month for the retail community (underlying retail bid is fading). HF length has recently come in significantly on a 1 year look back but on a 3 year basis is well above 50th percentile for both nets and grosses (still more wood to chop here). Institutional community continues to cut risk in China ADR’s post DIDI development while U.S. / China tensions rise. All eyes remain 10yr yields well below 200dma of 1.26 for first time in 2021. No need to hit the panic button but I plan on being patient with buy tickets over the next several sessions.\n</blockquote>\n<p>And here are the 10 key<i>bearish</i>developments Flood is monitoring:</p>\n<p><b>1) Covid headlines over the weekend were the most negative that I have seen in 2021. Here are the 5 that stood out to me...</b></p>\n<ul>\n <li>U.S. infections surged more than 60% last week, topping a 16% global increase. Delta cases may be undercounted, former FDA chief Scott Gottlieb said. The Dr. warned that the US is “vastly underestimating” the level of COVID delta spread domestically.CNBC</li>\n <li>The CDC warns of a “pandemic of the unvaccinated” as cases, hospitalizations, and fatalities rise in those parts of the country with low inoculation rates.BBG</li>\n <li>CDC says other major US cities will probably follow LA and reimpose mask mandates as COVID statistics continue to deteriorate.FT</li>\n <li>First Olympic athletes in Tokyo test positive for COVID, just days before the games are expected to commence (Coco Gauff the highest profile U.S. athlete to withdraw)</li>\n <li>The UK said travelers from France will need to quarantine for 10 days regardless of vaccination status, an announcement that “leaves holidays in disarray”.London Times</li>\n</ul>\n<p><b>2) It has been a paper party and this paper is getting harder to place. Last week we priced 11 registered deals in the U.S. ($3b notional) and this week already working on another 18 ($10b). This is especially noteworthy while in the depths of July.</b></p>\n<p><b>3) Only 1 week into 2Q earnings but banks telling us to expect beats but NOT TO expect these beats to be rewarded. AKA sell sides estimates are still too low and positioning remains crowded. Since JPM kicked of megacap tech bank earnings last Tuesday morning (essentially beats across the board) bank index has shed 355bps.</b></p>\n<p><b>4) We are in depths of corporate buyback blackout period and this will run through 7/23/21....</b></p>\n<p><img src=\"https://static.tigerbbs.com/2aaf1e5d45694a097b50a91dbde1c820\" tg-width=\"500\" tg-height=\"271\" referrerpolicy=\"no-referrer\"><b>5) Systematic flows are asymmetric...(AKA CTAs are sellers in a up and down tape)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/4bba4d70220e9707ea2844810c1a10b2\" tg-width=\"866\" tg-height=\"381\" referrerpolicy=\"no-referrer\"><b>6) Market breadth continues to deteriorate (was at ATH of 100 last month)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/39de9052680301024db46173d0dce29f\" tg-width=\"507\" tg-height=\"405\" referrerpolicy=\"no-referrer\"><b>7) AKA without recent stellar price action on FAAMG the market would be in some trouble...</b></p>\n<p><img src=\"https://static.tigerbbs.com/0ae0c7eead73ad8dc2ecc63bcbd9e27e\" tg-width=\"500\" tg-height=\"385\" referrerpolicy=\"no-referrer\"></p>\n<p><b>8) Tensions with China escalating and we see continued derisking in ADRs: The White House is accusing China of perpetrating a massive hack of Microsoft’s email systems and will form a coalition of NATO members to condemn Beijing’s cyber activities.NYT</b></p>\n<p><b>9) Retail support has been waning MTD....(GS HIGH RETAIL SENTIMENT BASKET)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/91d1bdeccdbb13bda1edf2982fd29b9c\" tg-width=\"969\" tg-height=\"737\" width=\"100%\" height=\"auto\"></p>\n<p><b>1</b><b>0) On 1 year look back Fundamental L/S positioning has come in significantly....on a 3yr look back still elevated....</b></p>\n<p><img src=\"https://static.tigerbbs.com/588f67823e6fabf1df2586491f930477\" tg-width=\"912\" tg-height=\"105\" width=\"100%\" height=\"auto\"></p>","source":"lsy1583725640930","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Says \"Don't Buy This Dip\" And Here's Why...</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Says \"Don't Buy This Dip\" And Here's Why...\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-20 21:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188133258","content_text":"At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest period for markets...\n\n... and followed up with apredictionthat shorts will have to cover, which they did during a period in which we saw 13 out of 16 trading days hit new all time highs.\nOf course, it all came crashing down in the last 3 days when the S&P slide accelerated, culminating with a scary rout on Monday when tumbling yields sparked a panic that the US economy is headed straight into a stagflationary crash.\nAnd yet, with futures rebounding and traders clearly showing a desire to catch what has been the fastest falling knife in months, we were surprised to read that the same John Flood who correctly predicted the market ramp in the first half of July, has now flipped completely and in a note published overnight writes \"don't buy this dip.\" He explains why:\n\n I am a consistent buyer of dips but this wobble feels different and I am bracing for a weaker tape this week. Negative Covid headlines are picking up in velocity. Issuance spigots are fully turned on and this paper is getting harder to place from my seat (after some choppy px action related to issuance last week).\n\n\n99% of S&P500 companies are in buyback blackout period into next week and quant flows remain asymmetric on the supply side (AKA CTA sellers will win this tug of war).Earnings last week were great but were not rewarded (banks)...this week and next are the 2 busiest weeks of the earnings period.\n\n\n Overall market breadth continues to dissipate with FAAMG complex carrying the weight of the indices on its back. July has not been a fun month for the retail community (underlying retail bid is fading). HF length has recently come in significantly on a 1 year look back but on a 3 year basis is well above 50th percentile for both nets and grosses (still more wood to chop here). Institutional community continues to cut risk in China ADR’s post DIDI development while U.S. / China tensions rise. All eyes remain 10yr yields well below 200dma of 1.26 for first time in 2021. No need to hit the panic button but I plan on being patient with buy tickets over the next several sessions.\n\nAnd here are the 10 keybearishdevelopments Flood is monitoring:\n1) Covid headlines over the weekend were the most negative that I have seen in 2021. Here are the 5 that stood out to me...\n\nU.S. infections surged more than 60% last week, topping a 16% global increase. Delta cases may be undercounted, former FDA chief Scott Gottlieb said. The Dr. warned that the US is “vastly underestimating” the level of COVID delta spread domestically.CNBC\nThe CDC warns of a “pandemic of the unvaccinated” as cases, hospitalizations, and fatalities rise in those parts of the country with low inoculation rates.BBG\nCDC says other major US cities will probably follow LA and reimpose mask mandates as COVID statistics continue to deteriorate.FT\nFirst Olympic athletes in Tokyo test positive for COVID, just days before the games are expected to commence (Coco Gauff the highest profile U.S. athlete to withdraw)\nThe UK said travelers from France will need to quarantine for 10 days regardless of vaccination status, an announcement that “leaves holidays in disarray”.London Times\n\n2) It has been a paper party and this paper is getting harder to place. Last week we priced 11 registered deals in the U.S. ($3b notional) and this week already working on another 18 ($10b). This is especially noteworthy while in the depths of July.\n3) Only 1 week into 2Q earnings but banks telling us to expect beats but NOT TO expect these beats to be rewarded. AKA sell sides estimates are still too low and positioning remains crowded. Since JPM kicked of megacap tech bank earnings last Tuesday morning (essentially beats across the board) bank index has shed 355bps.\n4) We are in depths of corporate buyback blackout period and this will run through 7/23/21....\n5) Systematic flows are asymmetric...(AKA CTAs are sellers in a up and down tape)....\n6) Market breadth continues to deteriorate (was at ATH of 100 last month)....\n7) AKA without recent stellar price action on FAAMG the market would be in some trouble...\n\n8) Tensions with China escalating and we see continued derisking in ADRs: The White House is accusing China of perpetrating a massive hack of Microsoft’s email systems and will form a coalition of NATO members to condemn Beijing’s cyber activities.NYT\n9) Retail support has been waning MTD....(GS HIGH RETAIL SENTIMENT BASKET)....\n\n10) On 1 year look back Fundamental L/S positioning has come in significantly....on a 3yr look back still elevated....","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5278551,"gmtCreate":1626831142165,"gmtModify":1663231242547,"authorId":3574906731000207,"author":{"id":3574906731000207,"authorId":3574906731000207,"name":"SSVC","avatar":"https://static.tigerbbs.com/545a5ea462ff4ac7cc100bd3d8d97f72","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":178430197,"type":1,"supId":0,"prevId":0,"content":"Ok","text":"Ok","html":"Ok"}],"langContent":"EN"},{"id":178498634,"gmtCreate":1626830611728,"gmtModify":1703765981836,"author":{"id":"3578013531356504","authorId":"3578013531356504","name":"Rajeshd2331","avatar":"https://static.tigerbbs.com/0d24763ae4b9d3ceea7d3a7079877e10","vip":1,"crmLevel":6,"crmLevelSwitch":0},"htmlText":"Margin buyer&nbsp;","listText":"Margin buyer&nbsp;","text":"Margin buyer","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/178498634","repostId":1188133258,"repostType":4,"repost":{"id":"1188133258","pubTimestamp":1626787650,"share":"https://www.laohu8.com/m/news/1188133258?lang=&edition=full","pubTime":"2021-07-20 21:27","market":"us","language":"en","title":"Goldman Says \"Don't Buy This Dip\" And Here's Why...","url":"https://stock-news.laohu8.com/highlight/detail?id=1188133258","media":"zerohedge","summary":"At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-we","content":"<p>At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest period for markets...</p>\n<p><img src=\"https://static.tigerbbs.com/e7dc88222112e4655f492c56509f9d64\" tg-width=\"1280\" tg-height=\"467\" referrerpolicy=\"no-referrer\"></p>\n<p>... and followed up with apredictionthat shorts will have to cover, which they did during a period in which we saw 13 out of 16 trading days hit new all time highs.</p>\n<p>Of course, it all came crashing down in the last 3 days when the S&amp;P slide accelerated, culminating with a scary rout on Monday when tumbling yields sparked a panic that the US economy is headed straight into a stagflationary crash.</p>\n<p>And yet, with futures rebounding and traders clearly showing a desire to catch what has been the fastest falling knife in months, we were surprised to read that the same John Flood who correctly predicted the market ramp in the first half of July, has now flipped completely and in a note published overnight writes \"<b>don't buy this dip.</b>\" He explains why:</p>\n<blockquote>\n I am a consistent buyer of dips but this wobble feels different and I am bracing for a weaker tape this week. Negative Covid headlines are picking up in velocity. Issuance spigots are fully turned on and this paper is getting harder to place from my seat (after some choppy px action related to issuance last week).\n</blockquote>\n<blockquote>\n <b>99% of S&amp;P500 companies are in buyback blackout period into next week and quant flows remain asymmetric on the supply side (AKA CTA sellers will win this tug of war).</b>Earnings last week were great but were not rewarded (banks)...this week and next are the 2 busiest weeks of the earnings period.\n</blockquote>\n<blockquote>\n Overall market breadth continues to dissipate with FAAMG complex carrying the weight of the indices on its back. July has not been a fun month for the retail community (underlying retail bid is fading). HF length has recently come in significantly on a 1 year look back but on a 3 year basis is well above 50th percentile for both nets and grosses (still more wood to chop here). Institutional community continues to cut risk in China ADR’s post DIDI development while U.S. / China tensions rise. All eyes remain 10yr yields well below 200dma of 1.26 for first time in 2021. No need to hit the panic button but I plan on being patient with buy tickets over the next several sessions.\n</blockquote>\n<p>And here are the 10 key<i>bearish</i>developments Flood is monitoring:</p>\n<p><b>1) Covid headlines over the weekend were the most negative that I have seen in 2021. Here are the 5 that stood out to me...</b></p>\n<ul>\n <li>U.S. infections surged more than 60% last week, topping a 16% global increase. Delta cases may be undercounted, former FDA chief Scott Gottlieb said. The Dr. warned that the US is “vastly underestimating” the level of COVID delta spread domestically.CNBC</li>\n <li>The CDC warns of a “pandemic of the unvaccinated” as cases, hospitalizations, and fatalities rise in those parts of the country with low inoculation rates.BBG</li>\n <li>CDC says other major US cities will probably follow LA and reimpose mask mandates as COVID statistics continue to deteriorate.FT</li>\n <li>First Olympic athletes in Tokyo test positive for COVID, just days before the games are expected to commence (Coco Gauff the highest profile U.S. athlete to withdraw)</li>\n <li>The UK said travelers from France will need to quarantine for 10 days regardless of vaccination status, an announcement that “leaves holidays in disarray”.London Times</li>\n</ul>\n<p><b>2) It has been a paper party and this paper is getting harder to place. Last week we priced 11 registered deals in the U.S. ($3b notional) and this week already working on another 18 ($10b). This is especially noteworthy while in the depths of July.</b></p>\n<p><b>3) Only 1 week into 2Q earnings but banks telling us to expect beats but NOT TO expect these beats to be rewarded. AKA sell sides estimates are still too low and positioning remains crowded. Since JPM kicked of megacap tech bank earnings last Tuesday morning (essentially beats across the board) bank index has shed 355bps.</b></p>\n<p><b>4) We are in depths of corporate buyback blackout period and this will run through 7/23/21....</b></p>\n<p><img src=\"https://static.tigerbbs.com/2aaf1e5d45694a097b50a91dbde1c820\" tg-width=\"500\" tg-height=\"271\" referrerpolicy=\"no-referrer\"><b>5) Systematic flows are asymmetric...(AKA CTAs are sellers in a up and down tape)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/4bba4d70220e9707ea2844810c1a10b2\" tg-width=\"866\" tg-height=\"381\" referrerpolicy=\"no-referrer\"><b>6) Market breadth continues to deteriorate (was at ATH of 100 last month)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/39de9052680301024db46173d0dce29f\" tg-width=\"507\" tg-height=\"405\" referrerpolicy=\"no-referrer\"><b>7) AKA without recent stellar price action on FAAMG the market would be in some trouble...</b></p>\n<p><img src=\"https://static.tigerbbs.com/0ae0c7eead73ad8dc2ecc63bcbd9e27e\" tg-width=\"500\" tg-height=\"385\" referrerpolicy=\"no-referrer\"></p>\n<p><b>8) Tensions with China escalating and we see continued derisking in ADRs: The White House is accusing China of perpetrating a massive hack of Microsoft’s email systems and will form a coalition of NATO members to condemn Beijing’s cyber activities.NYT</b></p>\n<p><b>9) Retail support has been waning MTD....(GS HIGH RETAIL SENTIMENT BASKET)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/91d1bdeccdbb13bda1edf2982fd29b9c\" tg-width=\"969\" tg-height=\"737\" width=\"100%\" height=\"auto\"></p>\n<p><b>1</b><b>0) On 1 year look back Fundamental L/S positioning has come in significantly....on a 3yr look back still elevated....</b></p>\n<p><img src=\"https://static.tigerbbs.com/588f67823e6fabf1df2586491f930477\" tg-width=\"912\" tg-height=\"105\" width=\"100%\" height=\"auto\"></p>","source":"lsy1583725640930","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Says \"Don't Buy This Dip\" And Here's Why...</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Says \"Don't Buy This Dip\" And Here's Why...\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-20 21:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188133258","content_text":"At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest period for markets...\n\n... and followed up with apredictionthat shorts will have to cover, which they did during a period in which we saw 13 out of 16 trading days hit new all time highs.\nOf course, it all came crashing down in the last 3 days when the S&P slide accelerated, culminating with a scary rout on Monday when tumbling yields sparked a panic that the US economy is headed straight into a stagflationary crash.\nAnd yet, with futures rebounding and traders clearly showing a desire to catch what has been the fastest falling knife in months, we were surprised to read that the same John Flood who correctly predicted the market ramp in the first half of July, has now flipped completely and in a note published overnight writes \"don't buy this dip.\" He explains why:\n\n I am a consistent buyer of dips but this wobble feels different and I am bracing for a weaker tape this week. Negative Covid headlines are picking up in velocity. Issuance spigots are fully turned on and this paper is getting harder to place from my seat (after some choppy px action related to issuance last week).\n\n\n99% of S&P500 companies are in buyback blackout period into next week and quant flows remain asymmetric on the supply side (AKA CTA sellers will win this tug of war).Earnings last week were great but were not rewarded (banks)...this week and next are the 2 busiest weeks of the earnings period.\n\n\n Overall market breadth continues to dissipate with FAAMG complex carrying the weight of the indices on its back. July has not been a fun month for the retail community (underlying retail bid is fading). HF length has recently come in significantly on a 1 year look back but on a 3 year basis is well above 50th percentile for both nets and grosses (still more wood to chop here). Institutional community continues to cut risk in China ADR’s post DIDI development while U.S. / China tensions rise. All eyes remain 10yr yields well below 200dma of 1.26 for first time in 2021. No need to hit the panic button but I plan on being patient with buy tickets over the next several sessions.\n\nAnd here are the 10 keybearishdevelopments Flood is monitoring:\n1) Covid headlines over the weekend were the most negative that I have seen in 2021. Here are the 5 that stood out to me...\n\nU.S. infections surged more than 60% last week, topping a 16% global increase. Delta cases may be undercounted, former FDA chief Scott Gottlieb said. The Dr. warned that the US is “vastly underestimating” the level of COVID delta spread domestically.CNBC\nThe CDC warns of a “pandemic of the unvaccinated” as cases, hospitalizations, and fatalities rise in those parts of the country with low inoculation rates.BBG\nCDC says other major US cities will probably follow LA and reimpose mask mandates as COVID statistics continue to deteriorate.FT\nFirst Olympic athletes in Tokyo test positive for COVID, just days before the games are expected to commence (Coco Gauff the highest profile U.S. athlete to withdraw)\nThe UK said travelers from France will need to quarantine for 10 days regardless of vaccination status, an announcement that “leaves holidays in disarray”.London Times\n\n2) It has been a paper party and this paper is getting harder to place. Last week we priced 11 registered deals in the U.S. ($3b notional) and this week already working on another 18 ($10b). This is especially noteworthy while in the depths of July.\n3) Only 1 week into 2Q earnings but banks telling us to expect beats but NOT TO expect these beats to be rewarded. AKA sell sides estimates are still too low and positioning remains crowded. Since JPM kicked of megacap tech bank earnings last Tuesday morning (essentially beats across the board) bank index has shed 355bps.\n4) We are in depths of corporate buyback blackout period and this will run through 7/23/21....\n5) Systematic flows are asymmetric...(AKA CTAs are sellers in a up and down tape)....\n6) Market breadth continues to deteriorate (was at ATH of 100 last month)....\n7) AKA without recent stellar price action on FAAMG the market would be in some trouble...\n\n8) Tensions with China escalating and we see continued derisking in ADRs: The White House is accusing China of perpetrating a massive hack of Microsoft’s email systems and will form a coalition of NATO members to condemn Beijing’s cyber activities.NYT\n9) Retail support has been waning MTD....(GS HIGH RETAIL SENTIMENT BASKET)....\n\n10) On 1 year look back Fundamental L/S positioning has come in significantly....on a 3yr look back still elevated....","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":178546081,"gmtCreate":1626829203243,"gmtModify":1703765938993,"author":{"id":"3572923586954779","authorId":"3572923586954779","name":"LimLS","avatar":"https://static.tigerbbs.com/217b03b0c4808fb537070ba4e8f9d83f","vip":1,"crmLevel":5,"crmLevelSwitch":1},"htmlText":"Too much noise out there that hinder our judgement. Skip the news that talks about daily market, and focus on bigger events that's coming like the FOMC meeting and debt ceiling during end July","listText":"Too much noise out there that hinder our judgement. Skip the news that talks about daily market, and focus on bigger events that's coming like the FOMC meeting and debt ceiling during end July","text":"Too much noise out there that hinder our judgement. Skip the news that talks about daily market, and focus on bigger events that's coming like the FOMC meeting and debt ceiling during end July","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/178546081","repostId":1188133258,"repostType":4,"repost":{"id":"1188133258","pubTimestamp":1626787650,"share":"https://www.laohu8.com/m/news/1188133258?lang=&edition=full","pubTime":"2021-07-20 21:27","market":"us","language":"en","title":"Goldman Says \"Don't Buy This Dip\" And Here's Why...","url":"https://stock-news.laohu8.com/highlight/detail?id=1188133258","media":"zerohedge","summary":"At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-we","content":"<p>At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest period for markets...</p>\n<p><img src=\"https://static.tigerbbs.com/e7dc88222112e4655f492c56509f9d64\" tg-width=\"1280\" tg-height=\"467\" referrerpolicy=\"no-referrer\"></p>\n<p>... and followed up with apredictionthat shorts will have to cover, which they did during a period in which we saw 13 out of 16 trading days hit new all time highs.</p>\n<p>Of course, it all came crashing down in the last 3 days when the S&amp;P slide accelerated, culminating with a scary rout on Monday when tumbling yields sparked a panic that the US economy is headed straight into a stagflationary crash.</p>\n<p>And yet, with futures rebounding and traders clearly showing a desire to catch what has been the fastest falling knife in months, we were surprised to read that the same John Flood who correctly predicted the market ramp in the first half of July, has now flipped completely and in a note published overnight writes \"<b>don't buy this dip.</b>\" He explains why:</p>\n<blockquote>\n I am a consistent buyer of dips but this wobble feels different and I am bracing for a weaker tape this week. Negative Covid headlines are picking up in velocity. Issuance spigots are fully turned on and this paper is getting harder to place from my seat (after some choppy px action related to issuance last week).\n</blockquote>\n<blockquote>\n <b>99% of S&amp;P500 companies are in buyback blackout period into next week and quant flows remain asymmetric on the supply side (AKA CTA sellers will win this tug of war).</b>Earnings last week were great but were not rewarded (banks)...this week and next are the 2 busiest weeks of the earnings period.\n</blockquote>\n<blockquote>\n Overall market breadth continues to dissipate with FAAMG complex carrying the weight of the indices on its back. July has not been a fun month for the retail community (underlying retail bid is fading). HF length has recently come in significantly on a 1 year look back but on a 3 year basis is well above 50th percentile for both nets and grosses (still more wood to chop here). Institutional community continues to cut risk in China ADR’s post DIDI development while U.S. / China tensions rise. All eyes remain 10yr yields well below 200dma of 1.26 for first time in 2021. No need to hit the panic button but I plan on being patient with buy tickets over the next several sessions.\n</blockquote>\n<p>And here are the 10 key<i>bearish</i>developments Flood is monitoring:</p>\n<p><b>1) Covid headlines over the weekend were the most negative that I have seen in 2021. Here are the 5 that stood out to me...</b></p>\n<ul>\n <li>U.S. infections surged more than 60% last week, topping a 16% global increase. Delta cases may be undercounted, former FDA chief Scott Gottlieb said. The Dr. warned that the US is “vastly underestimating” the level of COVID delta spread domestically.CNBC</li>\n <li>The CDC warns of a “pandemic of the unvaccinated” as cases, hospitalizations, and fatalities rise in those parts of the country with low inoculation rates.BBG</li>\n <li>CDC says other major US cities will probably follow LA and reimpose mask mandates as COVID statistics continue to deteriorate.FT</li>\n <li>First Olympic athletes in Tokyo test positive for COVID, just days before the games are expected to commence (Coco Gauff the highest profile U.S. athlete to withdraw)</li>\n <li>The UK said travelers from France will need to quarantine for 10 days regardless of vaccination status, an announcement that “leaves holidays in disarray”.London Times</li>\n</ul>\n<p><b>2) It has been a paper party and this paper is getting harder to place. Last week we priced 11 registered deals in the U.S. ($3b notional) and this week already working on another 18 ($10b). This is especially noteworthy while in the depths of July.</b></p>\n<p><b>3) Only 1 week into 2Q earnings but banks telling us to expect beats but NOT TO expect these beats to be rewarded. AKA sell sides estimates are still too low and positioning remains crowded. Since JPM kicked of megacap tech bank earnings last Tuesday morning (essentially beats across the board) bank index has shed 355bps.</b></p>\n<p><b>4) We are in depths of corporate buyback blackout period and this will run through 7/23/21....</b></p>\n<p><img src=\"https://static.tigerbbs.com/2aaf1e5d45694a097b50a91dbde1c820\" tg-width=\"500\" tg-height=\"271\" referrerpolicy=\"no-referrer\"><b>5) Systematic flows are asymmetric...(AKA CTAs are sellers in a up and down tape)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/4bba4d70220e9707ea2844810c1a10b2\" tg-width=\"866\" tg-height=\"381\" referrerpolicy=\"no-referrer\"><b>6) Market breadth continues to deteriorate (was at ATH of 100 last month)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/39de9052680301024db46173d0dce29f\" tg-width=\"507\" tg-height=\"405\" referrerpolicy=\"no-referrer\"><b>7) AKA without recent stellar price action on FAAMG the market would be in some trouble...</b></p>\n<p><img src=\"https://static.tigerbbs.com/0ae0c7eead73ad8dc2ecc63bcbd9e27e\" tg-width=\"500\" tg-height=\"385\" referrerpolicy=\"no-referrer\"></p>\n<p><b>8) Tensions with China escalating and we see continued derisking in ADRs: The White House is accusing China of perpetrating a massive hack of Microsoft’s email systems and will form a coalition of NATO members to condemn Beijing’s cyber activities.NYT</b></p>\n<p><b>9) Retail support has been waning MTD....(GS HIGH RETAIL SENTIMENT BASKET)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/91d1bdeccdbb13bda1edf2982fd29b9c\" tg-width=\"969\" tg-height=\"737\" width=\"100%\" height=\"auto\"></p>\n<p><b>1</b><b>0) On 1 year look back Fundamental L/S positioning has come in significantly....on a 3yr look back still elevated....</b></p>\n<p><img src=\"https://static.tigerbbs.com/588f67823e6fabf1df2586491f930477\" tg-width=\"912\" tg-height=\"105\" width=\"100%\" height=\"auto\"></p>","source":"lsy1583725640930","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Says \"Don't Buy This Dip\" And Here's Why...</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Says \"Don't Buy This Dip\" And Here's Why...\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-20 21:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188133258","content_text":"At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest period for markets...\n\n... and followed up with apredictionthat shorts will have to cover, which they did during a period in which we saw 13 out of 16 trading days hit new all time highs.\nOf course, it all came crashing down in the last 3 days when the S&P slide accelerated, culminating with a scary rout on Monday when tumbling yields sparked a panic that the US economy is headed straight into a stagflationary crash.\nAnd yet, with futures rebounding and traders clearly showing a desire to catch what has been the fastest falling knife in months, we were surprised to read that the same John Flood who correctly predicted the market ramp in the first half of July, has now flipped completely and in a note published overnight writes \"don't buy this dip.\" He explains why:\n\n I am a consistent buyer of dips but this wobble feels different and I am bracing for a weaker tape this week. Negative Covid headlines are picking up in velocity. Issuance spigots are fully turned on and this paper is getting harder to place from my seat (after some choppy px action related to issuance last week).\n\n\n99% of S&P500 companies are in buyback blackout period into next week and quant flows remain asymmetric on the supply side (AKA CTA sellers will win this tug of war).Earnings last week were great but were not rewarded (banks)...this week and next are the 2 busiest weeks of the earnings period.\n\n\n Overall market breadth continues to dissipate with FAAMG complex carrying the weight of the indices on its back. July has not been a fun month for the retail community (underlying retail bid is fading). HF length has recently come in significantly on a 1 year look back but on a 3 year basis is well above 50th percentile for both nets and grosses (still more wood to chop here). Institutional community continues to cut risk in China ADR’s post DIDI development while U.S. / China tensions rise. All eyes remain 10yr yields well below 200dma of 1.26 for first time in 2021. No need to hit the panic button but I plan on being patient with buy tickets over the next several sessions.\n\nAnd here are the 10 keybearishdevelopments Flood is monitoring:\n1) Covid headlines over the weekend were the most negative that I have seen in 2021. Here are the 5 that stood out to me...\n\nU.S. infections surged more than 60% last week, topping a 16% global increase. Delta cases may be undercounted, former FDA chief Scott Gottlieb said. The Dr. warned that the US is “vastly underestimating” the level of COVID delta spread domestically.CNBC\nThe CDC warns of a “pandemic of the unvaccinated” as cases, hospitalizations, and fatalities rise in those parts of the country with low inoculation rates.BBG\nCDC says other major US cities will probably follow LA and reimpose mask mandates as COVID statistics continue to deteriorate.FT\nFirst Olympic athletes in Tokyo test positive for COVID, just days before the games are expected to commence (Coco Gauff the highest profile U.S. athlete to withdraw)\nThe UK said travelers from France will need to quarantine for 10 days regardless of vaccination status, an announcement that “leaves holidays in disarray”.London Times\n\n2) It has been a paper party and this paper is getting harder to place. Last week we priced 11 registered deals in the U.S. ($3b notional) and this week already working on another 18 ($10b). This is especially noteworthy while in the depths of July.\n3) Only 1 week into 2Q earnings but banks telling us to expect beats but NOT TO expect these beats to be rewarded. AKA sell sides estimates are still too low and positioning remains crowded. Since JPM kicked of megacap tech bank earnings last Tuesday morning (essentially beats across the board) bank index has shed 355bps.\n4) We are in depths of corporate buyback blackout period and this will run through 7/23/21....\n5) Systematic flows are asymmetric...(AKA CTAs are sellers in a up and down tape)....\n6) Market breadth continues to deteriorate (was at ATH of 100 last month)....\n7) AKA without recent stellar price action on FAAMG the market would be in some trouble...\n\n8) Tensions with China escalating and we see continued derisking in ADRs: The White House is accusing China of perpetrating a massive hack of Microsoft’s email systems and will form a coalition of NATO members to condemn Beijing’s cyber activities.NYT\n9) Retail support has been waning MTD....(GS HIGH RETAIL SENTIMENT BASKET)....\n\n10) On 1 year look back Fundamental L/S positioning has come in significantly....on a 3yr look back still elevated....","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5288998,"gmtCreate":1626916691420,"gmtModify":1663231299740,"authorId":3563664364598207,"author":{"id":3563664364598207,"authorId":3563664364598207,"name":"RDPD富爸穷爸","avatar":"https://static.tigerbbs.com/ccb78267f6fdc8fcff96e8963a385af9","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":178546081,"type":1,"supId":0,"prevId":0,"content":"??","text":"??","html":"??"},{"id":5278367,"gmtCreate":1626830165287,"gmtModify":1663231243950,"authorId":3580445955391890,"author":{"id":3580445955391890,"authorId":3580445955391890,"name":"RonaldSTH","avatar":"https://static.tigerbbs.com/390194fd6f59520ee0b7649e7fabb953","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":178546081,"type":1,"supId":0,"prevId":0,"content":"agree","text":"agree","html":"agree"}],"langContent":"EN"},{"id":178550485,"gmtCreate":1626828574847,"gmtModify":1703765920971,"author":{"id":"3586131488444401","authorId":"3586131488444401","name":"STKG","avatar":"https://static.tigerbbs.com/730c2482b43ac1909a601868b378a6e4","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Many noises out there.&nbsp;","listText":"Many noises out there.&nbsp;","text":"Many noises out there.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/178550485","repostId":1188133258,"repostType":4,"repost":{"id":"1188133258","pubTimestamp":1626787650,"share":"https://www.laohu8.com/m/news/1188133258?lang=&edition=full","pubTime":"2021-07-20 21:27","market":"us","language":"en","title":"Goldman Says \"Don't Buy This Dip\" And Here's Why...","url":"https://stock-news.laohu8.com/highlight/detail?id=1188133258","media":"zerohedge","summary":"At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-we","content":"<p>At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest period for markets...</p>\n<p><img src=\"https://static.tigerbbs.com/e7dc88222112e4655f492c56509f9d64\" tg-width=\"1280\" tg-height=\"467\" referrerpolicy=\"no-referrer\"></p>\n<p>... and followed up with apredictionthat shorts will have to cover, which they did during a period in which we saw 13 out of 16 trading days hit new all time highs.</p>\n<p>Of course, it all came crashing down in the last 3 days when the S&amp;P slide accelerated, culminating with a scary rout on Monday when tumbling yields sparked a panic that the US economy is headed straight into a stagflationary crash.</p>\n<p>And yet, with futures rebounding and traders clearly showing a desire to catch what has been the fastest falling knife in months, we were surprised to read that the same John Flood who correctly predicted the market ramp in the first half of July, has now flipped completely and in a note published overnight writes \"<b>don't buy this dip.</b>\" He explains why:</p>\n<blockquote>\n I am a consistent buyer of dips but this wobble feels different and I am bracing for a weaker tape this week. Negative Covid headlines are picking up in velocity. Issuance spigots are fully turned on and this paper is getting harder to place from my seat (after some choppy px action related to issuance last week).\n</blockquote>\n<blockquote>\n <b>99% of S&amp;P500 companies are in buyback blackout period into next week and quant flows remain asymmetric on the supply side (AKA CTA sellers will win this tug of war).</b>Earnings last week were great but were not rewarded (banks)...this week and next are the 2 busiest weeks of the earnings period.\n</blockquote>\n<blockquote>\n Overall market breadth continues to dissipate with FAAMG complex carrying the weight of the indices on its back. July has not been a fun month for the retail community (underlying retail bid is fading). HF length has recently come in significantly on a 1 year look back but on a 3 year basis is well above 50th percentile for both nets and grosses (still more wood to chop here). Institutional community continues to cut risk in China ADR’s post DIDI development while U.S. / China tensions rise. All eyes remain 10yr yields well below 200dma of 1.26 for first time in 2021. No need to hit the panic button but I plan on being patient with buy tickets over the next several sessions.\n</blockquote>\n<p>And here are the 10 key<i>bearish</i>developments Flood is monitoring:</p>\n<p><b>1) Covid headlines over the weekend were the most negative that I have seen in 2021. Here are the 5 that stood out to me...</b></p>\n<ul>\n <li>U.S. infections surged more than 60% last week, topping a 16% global increase. Delta cases may be undercounted, former FDA chief Scott Gottlieb said. The Dr. warned that the US is “vastly underestimating” the level of COVID delta spread domestically.CNBC</li>\n <li>The CDC warns of a “pandemic of the unvaccinated” as cases, hospitalizations, and fatalities rise in those parts of the country with low inoculation rates.BBG</li>\n <li>CDC says other major US cities will probably follow LA and reimpose mask mandates as COVID statistics continue to deteriorate.FT</li>\n <li>First Olympic athletes in Tokyo test positive for COVID, just days before the games are expected to commence (Coco Gauff the highest profile U.S. athlete to withdraw)</li>\n <li>The UK said travelers from France will need to quarantine for 10 days regardless of vaccination status, an announcement that “leaves holidays in disarray”.London Times</li>\n</ul>\n<p><b>2) It has been a paper party and this paper is getting harder to place. Last week we priced 11 registered deals in the U.S. ($3b notional) and this week already working on another 18 ($10b). This is especially noteworthy while in the depths of July.</b></p>\n<p><b>3) Only 1 week into 2Q earnings but banks telling us to expect beats but NOT TO expect these beats to be rewarded. AKA sell sides estimates are still too low and positioning remains crowded. Since JPM kicked of megacap tech bank earnings last Tuesday morning (essentially beats across the board) bank index has shed 355bps.</b></p>\n<p><b>4) We are in depths of corporate buyback blackout period and this will run through 7/23/21....</b></p>\n<p><img src=\"https://static.tigerbbs.com/2aaf1e5d45694a097b50a91dbde1c820\" tg-width=\"500\" tg-height=\"271\" referrerpolicy=\"no-referrer\"><b>5) Systematic flows are asymmetric...(AKA CTAs are sellers in a up and down tape)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/4bba4d70220e9707ea2844810c1a10b2\" tg-width=\"866\" tg-height=\"381\" referrerpolicy=\"no-referrer\"><b>6) Market breadth continues to deteriorate (was at ATH of 100 last month)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/39de9052680301024db46173d0dce29f\" tg-width=\"507\" tg-height=\"405\" referrerpolicy=\"no-referrer\"><b>7) AKA without recent stellar price action on FAAMG the market would be in some trouble...</b></p>\n<p><img src=\"https://static.tigerbbs.com/0ae0c7eead73ad8dc2ecc63bcbd9e27e\" tg-width=\"500\" tg-height=\"385\" referrerpolicy=\"no-referrer\"></p>\n<p><b>8) Tensions with China escalating and we see continued derisking in ADRs: The White House is accusing China of perpetrating a massive hack of Microsoft’s email systems and will form a coalition of NATO members to condemn Beijing’s cyber activities.NYT</b></p>\n<p><b>9) Retail support has been waning MTD....(GS HIGH RETAIL SENTIMENT BASKET)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/91d1bdeccdbb13bda1edf2982fd29b9c\" tg-width=\"969\" tg-height=\"737\" width=\"100%\" height=\"auto\"></p>\n<p><b>1</b><b>0) On 1 year look back Fundamental L/S positioning has come in significantly....on a 3yr look back still elevated....</b></p>\n<p><img src=\"https://static.tigerbbs.com/588f67823e6fabf1df2586491f930477\" tg-width=\"912\" tg-height=\"105\" width=\"100%\" height=\"auto\"></p>","source":"lsy1583725640930","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Says \"Don't Buy This Dip\" And Here's Why...</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Says \"Don't Buy This Dip\" And Here's Why...\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-20 21:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188133258","content_text":"At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest period for markets...\n\n... and followed up with apredictionthat shorts will have to cover, which they did during a period in which we saw 13 out of 16 trading days hit new all time highs.\nOf course, it all came crashing down in the last 3 days when the S&P slide accelerated, culminating with a scary rout on Monday when tumbling yields sparked a panic that the US economy is headed straight into a stagflationary crash.\nAnd yet, with futures rebounding and traders clearly showing a desire to catch what has been the fastest falling knife in months, we were surprised to read that the same John Flood who correctly predicted the market ramp in the first half of July, has now flipped completely and in a note published overnight writes \"don't buy this dip.\" He explains why:\n\n I am a consistent buyer of dips but this wobble feels different and I am bracing for a weaker tape this week. Negative Covid headlines are picking up in velocity. Issuance spigots are fully turned on and this paper is getting harder to place from my seat (after some choppy px action related to issuance last week).\n\n\n99% of S&P500 companies are in buyback blackout period into next week and quant flows remain asymmetric on the supply side (AKA CTA sellers will win this tug of war).Earnings last week were great but were not rewarded (banks)...this week and next are the 2 busiest weeks of the earnings period.\n\n\n Overall market breadth continues to dissipate with FAAMG complex carrying the weight of the indices on its back. July has not been a fun month for the retail community (underlying retail bid is fading). HF length has recently come in significantly on a 1 year look back but on a 3 year basis is well above 50th percentile for both nets and grosses (still more wood to chop here). Institutional community continues to cut risk in China ADR’s post DIDI development while U.S. / China tensions rise. All eyes remain 10yr yields well below 200dma of 1.26 for first time in 2021. No need to hit the panic button but I plan on being patient with buy tickets over the next several sessions.\n\nAnd here are the 10 keybearishdevelopments Flood is monitoring:\n1) Covid headlines over the weekend were the most negative that I have seen in 2021. Here are the 5 that stood out to me...\n\nU.S. infections surged more than 60% last week, topping a 16% global increase. Delta cases may be undercounted, former FDA chief Scott Gottlieb said. The Dr. warned that the US is “vastly underestimating” the level of COVID delta spread domestically.CNBC\nThe CDC warns of a “pandemic of the unvaccinated” as cases, hospitalizations, and fatalities rise in those parts of the country with low inoculation rates.BBG\nCDC says other major US cities will probably follow LA and reimpose mask mandates as COVID statistics continue to deteriorate.FT\nFirst Olympic athletes in Tokyo test positive for COVID, just days before the games are expected to commence (Coco Gauff the highest profile U.S. athlete to withdraw)\nThe UK said travelers from France will need to quarantine for 10 days regardless of vaccination status, an announcement that “leaves holidays in disarray”.London Times\n\n2) It has been a paper party and this paper is getting harder to place. Last week we priced 11 registered deals in the U.S. ($3b notional) and this week already working on another 18 ($10b). This is especially noteworthy while in the depths of July.\n3) Only 1 week into 2Q earnings but banks telling us to expect beats but NOT TO expect these beats to be rewarded. AKA sell sides estimates are still too low and positioning remains crowded. Since JPM kicked of megacap tech bank earnings last Tuesday morning (essentially beats across the board) bank index has shed 355bps.\n4) We are in depths of corporate buyback blackout period and this will run through 7/23/21....\n5) Systematic flows are asymmetric...(AKA CTAs are sellers in a up and down tape)....\n6) Market breadth continues to deteriorate (was at ATH of 100 last month)....\n7) AKA without recent stellar price action on FAAMG the market would be in some trouble...\n\n8) Tensions with China escalating and we see continued derisking in ADRs: The White House is accusing China of perpetrating a massive hack of Microsoft’s email systems and will form a coalition of NATO members to condemn Beijing’s cyber activities.NYT\n9) Retail support has been waning MTD....(GS HIGH RETAIL SENTIMENT BASKET)....\n\n10) On 1 year look back Fundamental L/S positioning has come in significantly....on a 3yr look back still elevated....","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5278133,"gmtCreate":1626828924283,"gmtModify":1663231241074,"authorId":3572923586954779,"author":{"id":3572923586954779,"authorId":3572923586954779,"name":"LimLS","avatar":"https://static.tigerbbs.com/217b03b0c4808fb537070ba4e8f9d83f","vip":1,"crmLevel":5,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":178550485,"type":1,"supId":0,"prevId":0,"content":"Too much noise nowadays. Best to just not follow any finance news talks about stock market. Just follow the general economic news and the company earnings report and relevant news. That's enough.","text":"Too much noise nowadays. Best to just not follow any finance news talks about stock market. Just follow the general economic news and the company earnings report and relevant news. That's enough.","html":"Too much noise nowadays. Best to just not follow any finance news talks about stock market. Just follow the general economic news and the company earnings report and relevant news. That's enough."}],"langContent":"EN"},{"id":178277782,"gmtCreate":1626825858746,"gmtModify":1703765823477,"author":{"id":"3574713327400822","authorId":"3574713327400822","name":"RichyRick","avatar":"https://static.tigerbbs.com/b86ee481aaeabbd2348ddf829e3a56fe","vip":1,"crmLevel":3,"crmLevelSwitch":0},"htmlText":"Trade withthin your means&nbsp;","listText":"Trade withthin your means&nbsp;","text":"Trade withthin your means","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/178277782","repostId":1188133258,"repostType":4,"repost":{"id":"1188133258","pubTimestamp":1626787650,"share":"https://www.laohu8.com/m/news/1188133258?lang=&edition=full","pubTime":"2021-07-20 21:27","market":"us","language":"en","title":"Goldman Says \"Don't Buy This Dip\" And Here's Why...","url":"https://stock-news.laohu8.com/highlight/detail?id=1188133258","media":"zerohedge","summary":"At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-we","content":"<p>At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest period for markets...</p>\n<p><img src=\"https://static.tigerbbs.com/e7dc88222112e4655f492c56509f9d64\" tg-width=\"1280\" tg-height=\"467\" referrerpolicy=\"no-referrer\"></p>\n<p>... and followed up with apredictionthat shorts will have to cover, which they did during a period in which we saw 13 out of 16 trading days hit new all time highs.</p>\n<p>Of course, it all came crashing down in the last 3 days when the S&amp;P slide accelerated, culminating with a scary rout on Monday when tumbling yields sparked a panic that the US economy is headed straight into a stagflationary crash.</p>\n<p>And yet, with futures rebounding and traders clearly showing a desire to catch what has been the fastest falling knife in months, we were surprised to read that the same John Flood who correctly predicted the market ramp in the first half of July, has now flipped completely and in a note published overnight writes \"<b>don't buy this dip.</b>\" He explains why:</p>\n<blockquote>\n I am a consistent buyer of dips but this wobble feels different and I am bracing for a weaker tape this week. Negative Covid headlines are picking up in velocity. Issuance spigots are fully turned on and this paper is getting harder to place from my seat (after some choppy px action related to issuance last week).\n</blockquote>\n<blockquote>\n <b>99% of S&amp;P500 companies are in buyback blackout period into next week and quant flows remain asymmetric on the supply side (AKA CTA sellers will win this tug of war).</b>Earnings last week were great but were not rewarded (banks)...this week and next are the 2 busiest weeks of the earnings period.\n</blockquote>\n<blockquote>\n Overall market breadth continues to dissipate with FAAMG complex carrying the weight of the indices on its back. July has not been a fun month for the retail community (underlying retail bid is fading). HF length has recently come in significantly on a 1 year look back but on a 3 year basis is well above 50th percentile for both nets and grosses (still more wood to chop here). Institutional community continues to cut risk in China ADR’s post DIDI development while U.S. / China tensions rise. All eyes remain 10yr yields well below 200dma of 1.26 for first time in 2021. No need to hit the panic button but I plan on being patient with buy tickets over the next several sessions.\n</blockquote>\n<p>And here are the 10 key<i>bearish</i>developments Flood is monitoring:</p>\n<p><b>1) Covid headlines over the weekend were the most negative that I have seen in 2021. Here are the 5 that stood out to me...</b></p>\n<ul>\n <li>U.S. infections surged more than 60% last week, topping a 16% global increase. Delta cases may be undercounted, former FDA chief Scott Gottlieb said. The Dr. warned that the US is “vastly underestimating” the level of COVID delta spread domestically.CNBC</li>\n <li>The CDC warns of a “pandemic of the unvaccinated” as cases, hospitalizations, and fatalities rise in those parts of the country with low inoculation rates.BBG</li>\n <li>CDC says other major US cities will probably follow LA and reimpose mask mandates as COVID statistics continue to deteriorate.FT</li>\n <li>First Olympic athletes in Tokyo test positive for COVID, just days before the games are expected to commence (Coco Gauff the highest profile U.S. athlete to withdraw)</li>\n <li>The UK said travelers from France will need to quarantine for 10 days regardless of vaccination status, an announcement that “leaves holidays in disarray”.London Times</li>\n</ul>\n<p><b>2) It has been a paper party and this paper is getting harder to place. Last week we priced 11 registered deals in the U.S. ($3b notional) and this week already working on another 18 ($10b). This is especially noteworthy while in the depths of July.</b></p>\n<p><b>3) Only 1 week into 2Q earnings but banks telling us to expect beats but NOT TO expect these beats to be rewarded. AKA sell sides estimates are still too low and positioning remains crowded. Since JPM kicked of megacap tech bank earnings last Tuesday morning (essentially beats across the board) bank index has shed 355bps.</b></p>\n<p><b>4) We are in depths of corporate buyback blackout period and this will run through 7/23/21....</b></p>\n<p><img src=\"https://static.tigerbbs.com/2aaf1e5d45694a097b50a91dbde1c820\" tg-width=\"500\" tg-height=\"271\" referrerpolicy=\"no-referrer\"><b>5) Systematic flows are asymmetric...(AKA CTAs are sellers in a up and down tape)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/4bba4d70220e9707ea2844810c1a10b2\" tg-width=\"866\" tg-height=\"381\" referrerpolicy=\"no-referrer\"><b>6) Market breadth continues to deteriorate (was at ATH of 100 last month)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/39de9052680301024db46173d0dce29f\" tg-width=\"507\" tg-height=\"405\" referrerpolicy=\"no-referrer\"><b>7) AKA without recent stellar price action on FAAMG the market would be in some trouble...</b></p>\n<p><img src=\"https://static.tigerbbs.com/0ae0c7eead73ad8dc2ecc63bcbd9e27e\" tg-width=\"500\" tg-height=\"385\" referrerpolicy=\"no-referrer\"></p>\n<p><b>8) Tensions with China escalating and we see continued derisking in ADRs: The White House is accusing China of perpetrating a massive hack of Microsoft’s email systems and will form a coalition of NATO members to condemn Beijing’s cyber activities.NYT</b></p>\n<p><b>9) Retail support has been waning MTD....(GS HIGH RETAIL SENTIMENT BASKET)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/91d1bdeccdbb13bda1edf2982fd29b9c\" tg-width=\"969\" tg-height=\"737\" width=\"100%\" height=\"auto\"></p>\n<p><b>1</b><b>0) On 1 year look back Fundamental L/S positioning has come in significantly....on a 3yr look back still elevated....</b></p>\n<p><img src=\"https://static.tigerbbs.com/588f67823e6fabf1df2586491f930477\" tg-width=\"912\" tg-height=\"105\" width=\"100%\" height=\"auto\"></p>","source":"lsy1583725640930","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Says \"Don't Buy This Dip\" And Here's Why...</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Says \"Don't Buy This Dip\" And Here's Why...\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-20 21:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188133258","content_text":"At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest period for markets...\n\n... and followed up with apredictionthat shorts will have to cover, which they did during a period in which we saw 13 out of 16 trading days hit new all time highs.\nOf course, it all came crashing down in the last 3 days when the S&P slide accelerated, culminating with a scary rout on Monday when tumbling yields sparked a panic that the US economy is headed straight into a stagflationary crash.\nAnd yet, with futures rebounding and traders clearly showing a desire to catch what has been the fastest falling knife in months, we were surprised to read that the same John Flood who correctly predicted the market ramp in the first half of July, has now flipped completely and in a note published overnight writes \"don't buy this dip.\" He explains why:\n\n I am a consistent buyer of dips but this wobble feels different and I am bracing for a weaker tape this week. Negative Covid headlines are picking up in velocity. Issuance spigots are fully turned on and this paper is getting harder to place from my seat (after some choppy px action related to issuance last week).\n\n\n99% of S&P500 companies are in buyback blackout period into next week and quant flows remain asymmetric on the supply side (AKA CTA sellers will win this tug of war).Earnings last week were great but were not rewarded (banks)...this week and next are the 2 busiest weeks of the earnings period.\n\n\n Overall market breadth continues to dissipate with FAAMG complex carrying the weight of the indices on its back. July has not been a fun month for the retail community (underlying retail bid is fading). HF length has recently come in significantly on a 1 year look back but on a 3 year basis is well above 50th percentile for both nets and grosses (still more wood to chop here). Institutional community continues to cut risk in China ADR’s post DIDI development while U.S. / China tensions rise. All eyes remain 10yr yields well below 200dma of 1.26 for first time in 2021. No need to hit the panic button but I plan on being patient with buy tickets over the next several sessions.\n\nAnd here are the 10 keybearishdevelopments Flood is monitoring:\n1) Covid headlines over the weekend were the most negative that I have seen in 2021. Here are the 5 that stood out to me...\n\nU.S. infections surged more than 60% last week, topping a 16% global increase. Delta cases may be undercounted, former FDA chief Scott Gottlieb said. The Dr. warned that the US is “vastly underestimating” the level of COVID delta spread domestically.CNBC\nThe CDC warns of a “pandemic of the unvaccinated” as cases, hospitalizations, and fatalities rise in those parts of the country with low inoculation rates.BBG\nCDC says other major US cities will probably follow LA and reimpose mask mandates as COVID statistics continue to deteriorate.FT\nFirst Olympic athletes in Tokyo test positive for COVID, just days before the games are expected to commence (Coco Gauff the highest profile U.S. athlete to withdraw)\nThe UK said travelers from France will need to quarantine for 10 days regardless of vaccination status, an announcement that “leaves holidays in disarray”.London Times\n\n2) It has been a paper party and this paper is getting harder to place. Last week we priced 11 registered deals in the U.S. ($3b notional) and this week already working on another 18 ($10b). This is especially noteworthy while in the depths of July.\n3) Only 1 week into 2Q earnings but banks telling us to expect beats but NOT TO expect these beats to be rewarded. AKA sell sides estimates are still too low and positioning remains crowded. Since JPM kicked of megacap tech bank earnings last Tuesday morning (essentially beats across the board) bank index has shed 355bps.\n4) We are in depths of corporate buyback blackout period and this will run through 7/23/21....\n5) Systematic flows are asymmetric...(AKA CTAs are sellers in a up and down tape)....\n6) Market breadth continues to deteriorate (was at ATH of 100 last month)....\n7) AKA without recent stellar price action on FAAMG the market would be in some trouble...\n\n8) Tensions with China escalating and we see continued derisking in ADRs: The White House is accusing China of perpetrating a massive hack of Microsoft’s email systems and will form a coalition of NATO members to condemn Beijing’s cyber activities.NYT\n9) Retail support has been waning MTD....(GS HIGH RETAIL SENTIMENT BASKET)....\n\n10) On 1 year look back Fundamental L/S positioning has come in significantly....on a 3yr look back still elevated....","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":178247202,"gmtCreate":1626825544306,"gmtModify":1703765808832,"author":{"id":"3577580366301047","authorId":"3577580366301047","name":"All in Tesla","avatar":"https://community-static.tradeup.com/news/8db11f6e6a9a2a52850e734188850dc2","vip":1,"crmLevel":7,"crmLevelSwitch":1},"htmlText":"They don’t want us to buy so that they can buy at low ?","listText":"They don’t want us to buy so that they can buy at low ?","text":"They don’t want us to buy so that they can buy at low ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/178247202","repostId":1188133258,"repostType":4,"repost":{"id":"1188133258","pubTimestamp":1626787650,"share":"https://www.laohu8.com/m/news/1188133258?lang=&edition=full","pubTime":"2021-07-20 21:27","market":"us","language":"en","title":"Goldman Says \"Don't Buy This Dip\" And Here's Why...","url":"https://stock-news.laohu8.com/highlight/detail?id=1188133258","media":"zerohedge","summary":"At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-we","content":"<p>At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest period for markets...</p>\n<p><img src=\"https://static.tigerbbs.com/e7dc88222112e4655f492c56509f9d64\" tg-width=\"1280\" tg-height=\"467\" referrerpolicy=\"no-referrer\"></p>\n<p>... and followed up with apredictionthat shorts will have to cover, which they did during a period in which we saw 13 out of 16 trading days hit new all time highs.</p>\n<p>Of course, it all came crashing down in the last 3 days when the S&amp;P slide accelerated, culminating with a scary rout on Monday when tumbling yields sparked a panic that the US economy is headed straight into a stagflationary crash.</p>\n<p>And yet, with futures rebounding and traders clearly showing a desire to catch what has been the fastest falling knife in months, we were surprised to read that the same John Flood who correctly predicted the market ramp in the first half of July, has now flipped completely and in a note published overnight writes \"<b>don't buy this dip.</b>\" He explains why:</p>\n<blockquote>\n I am a consistent buyer of dips but this wobble feels different and I am bracing for a weaker tape this week. Negative Covid headlines are picking up in velocity. Issuance spigots are fully turned on and this paper is getting harder to place from my seat (after some choppy px action related to issuance last week).\n</blockquote>\n<blockquote>\n <b>99% of S&amp;P500 companies are in buyback blackout period into next week and quant flows remain asymmetric on the supply side (AKA CTA sellers will win this tug of war).</b>Earnings last week were great but were not rewarded (banks)...this week and next are the 2 busiest weeks of the earnings period.\n</blockquote>\n<blockquote>\n Overall market breadth continues to dissipate with FAAMG complex carrying the weight of the indices on its back. July has not been a fun month for the retail community (underlying retail bid is fading). HF length has recently come in significantly on a 1 year look back but on a 3 year basis is well above 50th percentile for both nets and grosses (still more wood to chop here). Institutional community continues to cut risk in China ADR’s post DIDI development while U.S. / China tensions rise. All eyes remain 10yr yields well below 200dma of 1.26 for first time in 2021. No need to hit the panic button but I plan on being patient with buy tickets over the next several sessions.\n</blockquote>\n<p>And here are the 10 key<i>bearish</i>developments Flood is monitoring:</p>\n<p><b>1) Covid headlines over the weekend were the most negative that I have seen in 2021. Here are the 5 that stood out to me...</b></p>\n<ul>\n <li>U.S. infections surged more than 60% last week, topping a 16% global increase. Delta cases may be undercounted, former FDA chief Scott Gottlieb said. The Dr. warned that the US is “vastly underestimating” the level of COVID delta spread domestically.CNBC</li>\n <li>The CDC warns of a “pandemic of the unvaccinated” as cases, hospitalizations, and fatalities rise in those parts of the country with low inoculation rates.BBG</li>\n <li>CDC says other major US cities will probably follow LA and reimpose mask mandates as COVID statistics continue to deteriorate.FT</li>\n <li>First Olympic athletes in Tokyo test positive for COVID, just days before the games are expected to commence (Coco Gauff the highest profile U.S. athlete to withdraw)</li>\n <li>The UK said travelers from France will need to quarantine for 10 days regardless of vaccination status, an announcement that “leaves holidays in disarray”.London Times</li>\n</ul>\n<p><b>2) It has been a paper party and this paper is getting harder to place. Last week we priced 11 registered deals in the U.S. ($3b notional) and this week already working on another 18 ($10b). This is especially noteworthy while in the depths of July.</b></p>\n<p><b>3) Only 1 week into 2Q earnings but banks telling us to expect beats but NOT TO expect these beats to be rewarded. AKA sell sides estimates are still too low and positioning remains crowded. Since JPM kicked of megacap tech bank earnings last Tuesday morning (essentially beats across the board) bank index has shed 355bps.</b></p>\n<p><b>4) We are in depths of corporate buyback blackout period and this will run through 7/23/21....</b></p>\n<p><img src=\"https://static.tigerbbs.com/2aaf1e5d45694a097b50a91dbde1c820\" tg-width=\"500\" tg-height=\"271\" referrerpolicy=\"no-referrer\"><b>5) Systematic flows are asymmetric...(AKA CTAs are sellers in a up and down tape)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/4bba4d70220e9707ea2844810c1a10b2\" tg-width=\"866\" tg-height=\"381\" referrerpolicy=\"no-referrer\"><b>6) Market breadth continues to deteriorate (was at ATH of 100 last month)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/39de9052680301024db46173d0dce29f\" tg-width=\"507\" tg-height=\"405\" referrerpolicy=\"no-referrer\"><b>7) AKA without recent stellar price action on FAAMG the market would be in some trouble...</b></p>\n<p><img src=\"https://static.tigerbbs.com/0ae0c7eead73ad8dc2ecc63bcbd9e27e\" tg-width=\"500\" tg-height=\"385\" referrerpolicy=\"no-referrer\"></p>\n<p><b>8) Tensions with China escalating and we see continued derisking in ADRs: The White House is accusing China of perpetrating a massive hack of Microsoft’s email systems and will form a coalition of NATO members to condemn Beijing’s cyber activities.NYT</b></p>\n<p><b>9) Retail support has been waning MTD....(GS HIGH RETAIL SENTIMENT BASKET)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/91d1bdeccdbb13bda1edf2982fd29b9c\" tg-width=\"969\" tg-height=\"737\" width=\"100%\" height=\"auto\"></p>\n<p><b>1</b><b>0) On 1 year look back Fundamental L/S positioning has come in significantly....on a 3yr look back still elevated....</b></p>\n<p><img src=\"https://static.tigerbbs.com/588f67823e6fabf1df2586491f930477\" tg-width=\"912\" tg-height=\"105\" width=\"100%\" height=\"auto\"></p>","source":"lsy1583725640930","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Says \"Don't Buy This Dip\" And Here's Why...</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Says \"Don't Buy This Dip\" And Here's Why...\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-20 21:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188133258","content_text":"At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest period for markets...\n\n... and followed up with apredictionthat shorts will have to cover, which they did during a period in which we saw 13 out of 16 trading days hit new all time highs.\nOf course, it all came crashing down in the last 3 days when the S&P slide accelerated, culminating with a scary rout on Monday when tumbling yields sparked a panic that the US economy is headed straight into a stagflationary crash.\nAnd yet, with futures rebounding and traders clearly showing a desire to catch what has been the fastest falling knife in months, we were surprised to read that the same John Flood who correctly predicted the market ramp in the first half of July, has now flipped completely and in a note published overnight writes \"don't buy this dip.\" He explains why:\n\n I am a consistent buyer of dips but this wobble feels different and I am bracing for a weaker tape this week. Negative Covid headlines are picking up in velocity. Issuance spigots are fully turned on and this paper is getting harder to place from my seat (after some choppy px action related to issuance last week).\n\n\n99% of S&P500 companies are in buyback blackout period into next week and quant flows remain asymmetric on the supply side (AKA CTA sellers will win this tug of war).Earnings last week were great but were not rewarded (banks)...this week and next are the 2 busiest weeks of the earnings period.\n\n\n Overall market breadth continues to dissipate with FAAMG complex carrying the weight of the indices on its back. July has not been a fun month for the retail community (underlying retail bid is fading). HF length has recently come in significantly on a 1 year look back but on a 3 year basis is well above 50th percentile for both nets and grosses (still more wood to chop here). Institutional community continues to cut risk in China ADR’s post DIDI development while U.S. / China tensions rise. All eyes remain 10yr yields well below 200dma of 1.26 for first time in 2021. No need to hit the panic button but I plan on being patient with buy tickets over the next several sessions.\n\nAnd here are the 10 keybearishdevelopments Flood is monitoring:\n1) Covid headlines over the weekend were the most negative that I have seen in 2021. Here are the 5 that stood out to me...\n\nU.S. infections surged more than 60% last week, topping a 16% global increase. Delta cases may be undercounted, former FDA chief Scott Gottlieb said. The Dr. warned that the US is “vastly underestimating” the level of COVID delta spread domestically.CNBC\nThe CDC warns of a “pandemic of the unvaccinated” as cases, hospitalizations, and fatalities rise in those parts of the country with low inoculation rates.BBG\nCDC says other major US cities will probably follow LA and reimpose mask mandates as COVID statistics continue to deteriorate.FT\nFirst Olympic athletes in Tokyo test positive for COVID, just days before the games are expected to commence (Coco Gauff the highest profile U.S. athlete to withdraw)\nThe UK said travelers from France will need to quarantine for 10 days regardless of vaccination status, an announcement that “leaves holidays in disarray”.London Times\n\n2) It has been a paper party and this paper is getting harder to place. Last week we priced 11 registered deals in the U.S. ($3b notional) and this week already working on another 18 ($10b). This is especially noteworthy while in the depths of July.\n3) Only 1 week into 2Q earnings but banks telling us to expect beats but NOT TO expect these beats to be rewarded. AKA sell sides estimates are still too low and positioning remains crowded. Since JPM kicked of megacap tech bank earnings last Tuesday morning (essentially beats across the board) bank index has shed 355bps.\n4) We are in depths of corporate buyback blackout period and this will run through 7/23/21....\n5) Systematic flows are asymmetric...(AKA CTAs are sellers in a up and down tape)....\n6) Market breadth continues to deteriorate (was at ATH of 100 last month)....\n7) AKA without recent stellar price action on FAAMG the market would be in some trouble...\n\n8) Tensions with China escalating and we see continued derisking in ADRs: The White House is accusing China of perpetrating a massive hack of Microsoft’s email systems and will form a coalition of NATO members to condemn Beijing’s cyber activities.NYT\n9) Retail support has been waning MTD....(GS HIGH RETAIL SENTIMENT BASKET)....\n\n10) On 1 year look back Fundamental L/S positioning has come in significantly....on a 3yr look back still elevated....","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":178228463,"gmtCreate":1626824555952,"gmtModify":1703765775925,"author":{"id":"3579992296424941","authorId":"3579992296424941","name":"DMC8","avatar":"https://static.tigerbbs.com/65aa8f5f6299558ce2ab36482793f750","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Awesome ?&nbsp;","listText":"Awesome ?&nbsp;","text":"Awesome ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/178228463","repostId":1188133258,"repostType":4,"repost":{"id":"1188133258","pubTimestamp":1626787650,"share":"https://www.laohu8.com/m/news/1188133258?lang=&edition=full","pubTime":"2021-07-20 21:27","market":"us","language":"en","title":"Goldman Says \"Don't Buy This Dip\" And Here's Why...","url":"https://stock-news.laohu8.com/highlight/detail?id=1188133258","media":"zerohedge","summary":"At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-we","content":"<p>At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest period for markets...</p>\n<p><img src=\"https://static.tigerbbs.com/e7dc88222112e4655f492c56509f9d64\" tg-width=\"1280\" tg-height=\"467\" referrerpolicy=\"no-referrer\"></p>\n<p>... and followed up with apredictionthat shorts will have to cover, which they did during a period in which we saw 13 out of 16 trading days hit new all time highs.</p>\n<p>Of course, it all came crashing down in the last 3 days when the S&amp;P slide accelerated, culminating with a scary rout on Monday when tumbling yields sparked a panic that the US economy is headed straight into a stagflationary crash.</p>\n<p>And yet, with futures rebounding and traders clearly showing a desire to catch what has been the fastest falling knife in months, we were surprised to read that the same John Flood who correctly predicted the market ramp in the first half of July, has now flipped completely and in a note published overnight writes \"<b>don't buy this dip.</b>\" He explains why:</p>\n<blockquote>\n I am a consistent buyer of dips but this wobble feels different and I am bracing for a weaker tape this week. Negative Covid headlines are picking up in velocity. Issuance spigots are fully turned on and this paper is getting harder to place from my seat (after some choppy px action related to issuance last week).\n</blockquote>\n<blockquote>\n <b>99% of S&amp;P500 companies are in buyback blackout period into next week and quant flows remain asymmetric on the supply side (AKA CTA sellers will win this tug of war).</b>Earnings last week were great but were not rewarded (banks)...this week and next are the 2 busiest weeks of the earnings period.\n</blockquote>\n<blockquote>\n Overall market breadth continues to dissipate with FAAMG complex carrying the weight of the indices on its back. July has not been a fun month for the retail community (underlying retail bid is fading). HF length has recently come in significantly on a 1 year look back but on a 3 year basis is well above 50th percentile for both nets and grosses (still more wood to chop here). Institutional community continues to cut risk in China ADR’s post DIDI development while U.S. / China tensions rise. All eyes remain 10yr yields well below 200dma of 1.26 for first time in 2021. No need to hit the panic button but I plan on being patient with buy tickets over the next several sessions.\n</blockquote>\n<p>And here are the 10 key<i>bearish</i>developments Flood is monitoring:</p>\n<p><b>1) Covid headlines over the weekend were the most negative that I have seen in 2021. Here are the 5 that stood out to me...</b></p>\n<ul>\n <li>U.S. infections surged more than 60% last week, topping a 16% global increase. Delta cases may be undercounted, former FDA chief Scott Gottlieb said. The Dr. warned that the US is “vastly underestimating” the level of COVID delta spread domestically.CNBC</li>\n <li>The CDC warns of a “pandemic of the unvaccinated” as cases, hospitalizations, and fatalities rise in those parts of the country with low inoculation rates.BBG</li>\n <li>CDC says other major US cities will probably follow LA and reimpose mask mandates as COVID statistics continue to deteriorate.FT</li>\n <li>First Olympic athletes in Tokyo test positive for COVID, just days before the games are expected to commence (Coco Gauff the highest profile U.S. athlete to withdraw)</li>\n <li>The UK said travelers from France will need to quarantine for 10 days regardless of vaccination status, an announcement that “leaves holidays in disarray”.London Times</li>\n</ul>\n<p><b>2) It has been a paper party and this paper is getting harder to place. Last week we priced 11 registered deals in the U.S. ($3b notional) and this week already working on another 18 ($10b). This is especially noteworthy while in the depths of July.</b></p>\n<p><b>3) Only 1 week into 2Q earnings but banks telling us to expect beats but NOT TO expect these beats to be rewarded. AKA sell sides estimates are still too low and positioning remains crowded. Since JPM kicked of megacap tech bank earnings last Tuesday morning (essentially beats across the board) bank index has shed 355bps.</b></p>\n<p><b>4) We are in depths of corporate buyback blackout period and this will run through 7/23/21....</b></p>\n<p><img src=\"https://static.tigerbbs.com/2aaf1e5d45694a097b50a91dbde1c820\" tg-width=\"500\" tg-height=\"271\" referrerpolicy=\"no-referrer\"><b>5) Systematic flows are asymmetric...(AKA CTAs are sellers in a up and down tape)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/4bba4d70220e9707ea2844810c1a10b2\" tg-width=\"866\" tg-height=\"381\" referrerpolicy=\"no-referrer\"><b>6) Market breadth continues to deteriorate (was at ATH of 100 last month)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/39de9052680301024db46173d0dce29f\" tg-width=\"507\" tg-height=\"405\" referrerpolicy=\"no-referrer\"><b>7) AKA without recent stellar price action on FAAMG the market would be in some trouble...</b></p>\n<p><img src=\"https://static.tigerbbs.com/0ae0c7eead73ad8dc2ecc63bcbd9e27e\" tg-width=\"500\" tg-height=\"385\" referrerpolicy=\"no-referrer\"></p>\n<p><b>8) Tensions with China escalating and we see continued derisking in ADRs: The White House is accusing China of perpetrating a massive hack of Microsoft’s email systems and will form a coalition of NATO members to condemn Beijing’s cyber activities.NYT</b></p>\n<p><b>9) Retail support has been waning MTD....(GS HIGH RETAIL SENTIMENT BASKET)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/91d1bdeccdbb13bda1edf2982fd29b9c\" tg-width=\"969\" tg-height=\"737\" width=\"100%\" height=\"auto\"></p>\n<p><b>1</b><b>0) On 1 year look back Fundamental L/S positioning has come in significantly....on a 3yr look back still elevated....</b></p>\n<p><img src=\"https://static.tigerbbs.com/588f67823e6fabf1df2586491f930477\" tg-width=\"912\" tg-height=\"105\" width=\"100%\" height=\"auto\"></p>","source":"lsy1583725640930","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Says \"Don't Buy This Dip\" And Here's Why...</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Says \"Don't Buy This Dip\" And Here's Why...\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-20 21:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188133258","content_text":"At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest period for markets...\n\n... and followed up with apredictionthat shorts will have to cover, which they did during a period in which we saw 13 out of 16 trading days hit new all time highs.\nOf course, it all came crashing down in the last 3 days when the S&P slide accelerated, culminating with a scary rout on Monday when tumbling yields sparked a panic that the US economy is headed straight into a stagflationary crash.\nAnd yet, with futures rebounding and traders clearly showing a desire to catch what has been the fastest falling knife in months, we were surprised to read that the same John Flood who correctly predicted the market ramp in the first half of July, has now flipped completely and in a note published overnight writes \"don't buy this dip.\" He explains why:\n\n I am a consistent buyer of dips but this wobble feels different and I am bracing for a weaker tape this week. Negative Covid headlines are picking up in velocity. Issuance spigots are fully turned on and this paper is getting harder to place from my seat (after some choppy px action related to issuance last week).\n\n\n99% of S&P500 companies are in buyback blackout period into next week and quant flows remain asymmetric on the supply side (AKA CTA sellers will win this tug of war).Earnings last week were great but were not rewarded (banks)...this week and next are the 2 busiest weeks of the earnings period.\n\n\n Overall market breadth continues to dissipate with FAAMG complex carrying the weight of the indices on its back. July has not been a fun month for the retail community (underlying retail bid is fading). HF length has recently come in significantly on a 1 year look back but on a 3 year basis is well above 50th percentile for both nets and grosses (still more wood to chop here). Institutional community continues to cut risk in China ADR’s post DIDI development while U.S. / China tensions rise. All eyes remain 10yr yields well below 200dma of 1.26 for first time in 2021. No need to hit the panic button but I plan on being patient with buy tickets over the next several sessions.\n\nAnd here are the 10 keybearishdevelopments Flood is monitoring:\n1) Covid headlines over the weekend were the most negative that I have seen in 2021. Here are the 5 that stood out to me...\n\nU.S. infections surged more than 60% last week, topping a 16% global increase. Delta cases may be undercounted, former FDA chief Scott Gottlieb said. The Dr. warned that the US is “vastly underestimating” the level of COVID delta spread domestically.CNBC\nThe CDC warns of a “pandemic of the unvaccinated” as cases, hospitalizations, and fatalities rise in those parts of the country with low inoculation rates.BBG\nCDC says other major US cities will probably follow LA and reimpose mask mandates as COVID statistics continue to deteriorate.FT\nFirst Olympic athletes in Tokyo test positive for COVID, just days before the games are expected to commence (Coco Gauff the highest profile U.S. athlete to withdraw)\nThe UK said travelers from France will need to quarantine for 10 days regardless of vaccination status, an announcement that “leaves holidays in disarray”.London Times\n\n2) It has been a paper party and this paper is getting harder to place. Last week we priced 11 registered deals in the U.S. ($3b notional) and this week already working on another 18 ($10b). This is especially noteworthy while in the depths of July.\n3) Only 1 week into 2Q earnings but banks telling us to expect beats but NOT TO expect these beats to be rewarded. AKA sell sides estimates are still too low and positioning remains crowded. Since JPM kicked of megacap tech bank earnings last Tuesday morning (essentially beats across the board) bank index has shed 355bps.\n4) We are in depths of corporate buyback blackout period and this will run through 7/23/21....\n5) Systematic flows are asymmetric...(AKA CTAs are sellers in a up and down tape)....\n6) Market breadth continues to deteriorate (was at ATH of 100 last month)....\n7) AKA without recent stellar price action on FAAMG the market would be in some trouble...\n\n8) Tensions with China escalating and we see continued derisking in ADRs: The White House is accusing China of perpetrating a massive hack of Microsoft’s email systems and will form a coalition of NATO members to condemn Beijing’s cyber activities.NYT\n9) Retail support has been waning MTD....(GS HIGH RETAIL SENTIMENT BASKET)....\n\n10) On 1 year look back Fundamental L/S positioning has come in significantly....on a 3yr look back still elevated....","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5277199,"gmtCreate":1626824963369,"gmtModify":1663231235064,"authorId":3581334744371071,"author":{"id":3581334744371071,"authorId":3581334744371071,"name":"arachno73","avatar":"https://static.tigerbbs.com/863498a76b71cd34c7beeb14e7e8e66f","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":178228463,"type":1,"supId":0,"prevId":0,"content":"Like and comment back please. Thanks.","text":"Like and comment back please. Thanks.","html":"Like and comment back please. Thanks."}],"langContent":"EN"},{"id":178286335,"gmtCreate":1626823766127,"gmtModify":1703765746383,"author":{"id":"3586760300834715","authorId":"3586760300834715","name":"dandroid","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/178286335","repostId":1188133258,"repostType":4,"repost":{"id":"1188133258","pubTimestamp":1626787650,"share":"https://www.laohu8.com/m/news/1188133258?lang=&edition=full","pubTime":"2021-07-20 21:27","market":"us","language":"en","title":"Goldman Says \"Don't Buy This Dip\" And Here's Why...","url":"https://stock-news.laohu8.com/highlight/detail?id=1188133258","media":"zerohedge","summary":"At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-we","content":"<p>At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest period for markets...</p>\n<p><img src=\"https://static.tigerbbs.com/e7dc88222112e4655f492c56509f9d64\" tg-width=\"1280\" tg-height=\"467\" referrerpolicy=\"no-referrer\"></p>\n<p>... and followed up with apredictionthat shorts will have to cover, which they did during a period in which we saw 13 out of 16 trading days hit new all time highs.</p>\n<p>Of course, it all came crashing down in the last 3 days when the S&amp;P slide accelerated, culminating with a scary rout on Monday when tumbling yields sparked a panic that the US economy is headed straight into a stagflationary crash.</p>\n<p>And yet, with futures rebounding and traders clearly showing a desire to catch what has been the fastest falling knife in months, we were surprised to read that the same John Flood who correctly predicted the market ramp in the first half of July, has now flipped completely and in a note published overnight writes \"<b>don't buy this dip.</b>\" He explains why:</p>\n<blockquote>\n I am a consistent buyer of dips but this wobble feels different and I am bracing for a weaker tape this week. Negative Covid headlines are picking up in velocity. Issuance spigots are fully turned on and this paper is getting harder to place from my seat (after some choppy px action related to issuance last week).\n</blockquote>\n<blockquote>\n <b>99% of S&amp;P500 companies are in buyback blackout period into next week and quant flows remain asymmetric on the supply side (AKA CTA sellers will win this tug of war).</b>Earnings last week were great but were not rewarded (banks)...this week and next are the 2 busiest weeks of the earnings period.\n</blockquote>\n<blockquote>\n Overall market breadth continues to dissipate with FAAMG complex carrying the weight of the indices on its back. July has not been a fun month for the retail community (underlying retail bid is fading). HF length has recently come in significantly on a 1 year look back but on a 3 year basis is well above 50th percentile for both nets and grosses (still more wood to chop here). Institutional community continues to cut risk in China ADR’s post DIDI development while U.S. / China tensions rise. All eyes remain 10yr yields well below 200dma of 1.26 for first time in 2021. No need to hit the panic button but I plan on being patient with buy tickets over the next several sessions.\n</blockquote>\n<p>And here are the 10 key<i>bearish</i>developments Flood is monitoring:</p>\n<p><b>1) Covid headlines over the weekend were the most negative that I have seen in 2021. Here are the 5 that stood out to me...</b></p>\n<ul>\n <li>U.S. infections surged more than 60% last week, topping a 16% global increase. Delta cases may be undercounted, former FDA chief Scott Gottlieb said. The Dr. warned that the US is “vastly underestimating” the level of COVID delta spread domestically.CNBC</li>\n <li>The CDC warns of a “pandemic of the unvaccinated” as cases, hospitalizations, and fatalities rise in those parts of the country with low inoculation rates.BBG</li>\n <li>CDC says other major US cities will probably follow LA and reimpose mask mandates as COVID statistics continue to deteriorate.FT</li>\n <li>First Olympic athletes in Tokyo test positive for COVID, just days before the games are expected to commence (Coco Gauff the highest profile U.S. athlete to withdraw)</li>\n <li>The UK said travelers from France will need to quarantine for 10 days regardless of vaccination status, an announcement that “leaves holidays in disarray”.London Times</li>\n</ul>\n<p><b>2) It has been a paper party and this paper is getting harder to place. Last week we priced 11 registered deals in the U.S. ($3b notional) and this week already working on another 18 ($10b). This is especially noteworthy while in the depths of July.</b></p>\n<p><b>3) Only 1 week into 2Q earnings but banks telling us to expect beats but NOT TO expect these beats to be rewarded. AKA sell sides estimates are still too low and positioning remains crowded. Since JPM kicked of megacap tech bank earnings last Tuesday morning (essentially beats across the board) bank index has shed 355bps.</b></p>\n<p><b>4) We are in depths of corporate buyback blackout period and this will run through 7/23/21....</b></p>\n<p><img src=\"https://static.tigerbbs.com/2aaf1e5d45694a097b50a91dbde1c820\" tg-width=\"500\" tg-height=\"271\" referrerpolicy=\"no-referrer\"><b>5) Systematic flows are asymmetric...(AKA CTAs are sellers in a up and down tape)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/4bba4d70220e9707ea2844810c1a10b2\" tg-width=\"866\" tg-height=\"381\" referrerpolicy=\"no-referrer\"><b>6) Market breadth continues to deteriorate (was at ATH of 100 last month)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/39de9052680301024db46173d0dce29f\" tg-width=\"507\" tg-height=\"405\" referrerpolicy=\"no-referrer\"><b>7) AKA without recent stellar price action on FAAMG the market would be in some trouble...</b></p>\n<p><img src=\"https://static.tigerbbs.com/0ae0c7eead73ad8dc2ecc63bcbd9e27e\" tg-width=\"500\" tg-height=\"385\" referrerpolicy=\"no-referrer\"></p>\n<p><b>8) Tensions with China escalating and we see continued derisking in ADRs: The White House is accusing China of perpetrating a massive hack of Microsoft’s email systems and will form a coalition of NATO members to condemn Beijing’s cyber activities.NYT</b></p>\n<p><b>9) Retail support has been waning MTD....(GS HIGH RETAIL SENTIMENT BASKET)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/91d1bdeccdbb13bda1edf2982fd29b9c\" tg-width=\"969\" tg-height=\"737\" width=\"100%\" height=\"auto\"></p>\n<p><b>1</b><b>0) On 1 year look back Fundamental L/S positioning has come in significantly....on a 3yr look back still elevated....</b></p>\n<p><img src=\"https://static.tigerbbs.com/588f67823e6fabf1df2586491f930477\" tg-width=\"912\" tg-height=\"105\" width=\"100%\" height=\"auto\"></p>","source":"lsy1583725640930","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Says \"Don't Buy This Dip\" And Here's Why...</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Says \"Don't Buy This Dip\" And Here's Why...\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-20 21:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188133258","content_text":"At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest period for markets...\n\n... and followed up with apredictionthat shorts will have to cover, which they did during a period in which we saw 13 out of 16 trading days hit new all time highs.\nOf course, it all came crashing down in the last 3 days when the S&P slide accelerated, culminating with a scary rout on Monday when tumbling yields sparked a panic that the US economy is headed straight into a stagflationary crash.\nAnd yet, with futures rebounding and traders clearly showing a desire to catch what has been the fastest falling knife in months, we were surprised to read that the same John Flood who correctly predicted the market ramp in the first half of July, has now flipped completely and in a note published overnight writes \"don't buy this dip.\" He explains why:\n\n I am a consistent buyer of dips but this wobble feels different and I am bracing for a weaker tape this week. Negative Covid headlines are picking up in velocity. Issuance spigots are fully turned on and this paper is getting harder to place from my seat (after some choppy px action related to issuance last week).\n\n\n99% of S&P500 companies are in buyback blackout period into next week and quant flows remain asymmetric on the supply side (AKA CTA sellers will win this tug of war).Earnings last week were great but were not rewarded (banks)...this week and next are the 2 busiest weeks of the earnings period.\n\n\n Overall market breadth continues to dissipate with FAAMG complex carrying the weight of the indices on its back. July has not been a fun month for the retail community (underlying retail bid is fading). HF length has recently come in significantly on a 1 year look back but on a 3 year basis is well above 50th percentile for both nets and grosses (still more wood to chop here). Institutional community continues to cut risk in China ADR’s post DIDI development while U.S. / China tensions rise. All eyes remain 10yr yields well below 200dma of 1.26 for first time in 2021. No need to hit the panic button but I plan on being patient with buy tickets over the next several sessions.\n\nAnd here are the 10 keybearishdevelopments Flood is monitoring:\n1) Covid headlines over the weekend were the most negative that I have seen in 2021. Here are the 5 that stood out to me...\n\nU.S. infections surged more than 60% last week, topping a 16% global increase. Delta cases may be undercounted, former FDA chief Scott Gottlieb said. The Dr. warned that the US is “vastly underestimating” the level of COVID delta spread domestically.CNBC\nThe CDC warns of a “pandemic of the unvaccinated” as cases, hospitalizations, and fatalities rise in those parts of the country with low inoculation rates.BBG\nCDC says other major US cities will probably follow LA and reimpose mask mandates as COVID statistics continue to deteriorate.FT\nFirst Olympic athletes in Tokyo test positive for COVID, just days before the games are expected to commence (Coco Gauff the highest profile U.S. athlete to withdraw)\nThe UK said travelers from France will need to quarantine for 10 days regardless of vaccination status, an announcement that “leaves holidays in disarray”.London Times\n\n2) It has been a paper party and this paper is getting harder to place. Last week we priced 11 registered deals in the U.S. ($3b notional) and this week already working on another 18 ($10b). This is especially noteworthy while in the depths of July.\n3) Only 1 week into 2Q earnings but banks telling us to expect beats but NOT TO expect these beats to be rewarded. AKA sell sides estimates are still too low and positioning remains crowded. Since JPM kicked of megacap tech bank earnings last Tuesday morning (essentially beats across the board) bank index has shed 355bps.\n4) We are in depths of corporate buyback blackout period and this will run through 7/23/21....\n5) Systematic flows are asymmetric...(AKA CTAs are sellers in a up and down tape)....\n6) Market breadth continues to deteriorate (was at ATH of 100 last month)....\n7) AKA without recent stellar price action on FAAMG the market would be in some trouble...\n\n8) Tensions with China escalating and we see continued derisking in ADRs: The White House is accusing China of perpetrating a massive hack of Microsoft’s email systems and will form a coalition of NATO members to condemn Beijing’s cyber activities.NYT\n9) Retail support has been waning MTD....(GS HIGH RETAIL SENTIMENT BASKET)....\n\n10) On 1 year look back Fundamental L/S positioning has come in significantly....on a 3yr look back still elevated....","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":178239990,"gmtCreate":1626822877010,"gmtModify":1703765711764,"author":{"id":"3582013193139368","authorId":"3582013193139368","name":"XiuJ","avatar":"https://static.tigerbbs.com/2679b64d21b553ca13b45b2f03e15f76","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Like please","listText":"Like please","text":"Like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/178239990","repostId":1188133258,"repostType":4,"repost":{"id":"1188133258","pubTimestamp":1626787650,"share":"https://www.laohu8.com/m/news/1188133258?lang=&edition=full","pubTime":"2021-07-20 21:27","market":"us","language":"en","title":"Goldman Says \"Don't Buy This Dip\" And Here's Why...","url":"https://stock-news.laohu8.com/highlight/detail?id=1188133258","media":"zerohedge","summary":"At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-we","content":"<p>At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest period for markets...</p>\n<p><img src=\"https://static.tigerbbs.com/e7dc88222112e4655f492c56509f9d64\" tg-width=\"1280\" tg-height=\"467\" referrerpolicy=\"no-referrer\"></p>\n<p>... and followed up with apredictionthat shorts will have to cover, which they did during a period in which we saw 13 out of 16 trading days hit new all time highs.</p>\n<p>Of course, it all came crashing down in the last 3 days when the S&amp;P slide accelerated, culminating with a scary rout on Monday when tumbling yields sparked a panic that the US economy is headed straight into a stagflationary crash.</p>\n<p>And yet, with futures rebounding and traders clearly showing a desire to catch what has been the fastest falling knife in months, we were surprised to read that the same John Flood who correctly predicted the market ramp in the first half of July, has now flipped completely and in a note published overnight writes \"<b>don't buy this dip.</b>\" He explains why:</p>\n<blockquote>\n I am a consistent buyer of dips but this wobble feels different and I am bracing for a weaker tape this week. Negative Covid headlines are picking up in velocity. Issuance spigots are fully turned on and this paper is getting harder to place from my seat (after some choppy px action related to issuance last week).\n</blockquote>\n<blockquote>\n <b>99% of S&amp;P500 companies are in buyback blackout period into next week and quant flows remain asymmetric on the supply side (AKA CTA sellers will win this tug of war).</b>Earnings last week were great but were not rewarded (banks)...this week and next are the 2 busiest weeks of the earnings period.\n</blockquote>\n<blockquote>\n Overall market breadth continues to dissipate with FAAMG complex carrying the weight of the indices on its back. July has not been a fun month for the retail community (underlying retail bid is fading). HF length has recently come in significantly on a 1 year look back but on a 3 year basis is well above 50th percentile for both nets and grosses (still more wood to chop here). Institutional community continues to cut risk in China ADR’s post DIDI development while U.S. / China tensions rise. All eyes remain 10yr yields well below 200dma of 1.26 for first time in 2021. No need to hit the panic button but I plan on being patient with buy tickets over the next several sessions.\n</blockquote>\n<p>And here are the 10 key<i>bearish</i>developments Flood is monitoring:</p>\n<p><b>1) Covid headlines over the weekend were the most negative that I have seen in 2021. Here are the 5 that stood out to me...</b></p>\n<ul>\n <li>U.S. infections surged more than 60% last week, topping a 16% global increase. Delta cases may be undercounted, former FDA chief Scott Gottlieb said. The Dr. warned that the US is “vastly underestimating” the level of COVID delta spread domestically.CNBC</li>\n <li>The CDC warns of a “pandemic of the unvaccinated” as cases, hospitalizations, and fatalities rise in those parts of the country with low inoculation rates.BBG</li>\n <li>CDC says other major US cities will probably follow LA and reimpose mask mandates as COVID statistics continue to deteriorate.FT</li>\n <li>First Olympic athletes in Tokyo test positive for COVID, just days before the games are expected to commence (Coco Gauff the highest profile U.S. athlete to withdraw)</li>\n <li>The UK said travelers from France will need to quarantine for 10 days regardless of vaccination status, an announcement that “leaves holidays in disarray”.London Times</li>\n</ul>\n<p><b>2) It has been a paper party and this paper is getting harder to place. Last week we priced 11 registered deals in the U.S. ($3b notional) and this week already working on another 18 ($10b). This is especially noteworthy while in the depths of July.</b></p>\n<p><b>3) Only 1 week into 2Q earnings but banks telling us to expect beats but NOT TO expect these beats to be rewarded. AKA sell sides estimates are still too low and positioning remains crowded. Since JPM kicked of megacap tech bank earnings last Tuesday morning (essentially beats across the board) bank index has shed 355bps.</b></p>\n<p><b>4) We are in depths of corporate buyback blackout period and this will run through 7/23/21....</b></p>\n<p><img src=\"https://static.tigerbbs.com/2aaf1e5d45694a097b50a91dbde1c820\" tg-width=\"500\" tg-height=\"271\" referrerpolicy=\"no-referrer\"><b>5) Systematic flows are asymmetric...(AKA CTAs are sellers in a up and down tape)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/4bba4d70220e9707ea2844810c1a10b2\" tg-width=\"866\" tg-height=\"381\" referrerpolicy=\"no-referrer\"><b>6) Market breadth continues to deteriorate (was at ATH of 100 last month)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/39de9052680301024db46173d0dce29f\" tg-width=\"507\" tg-height=\"405\" referrerpolicy=\"no-referrer\"><b>7) AKA without recent stellar price action on FAAMG the market would be in some trouble...</b></p>\n<p><img src=\"https://static.tigerbbs.com/0ae0c7eead73ad8dc2ecc63bcbd9e27e\" tg-width=\"500\" tg-height=\"385\" referrerpolicy=\"no-referrer\"></p>\n<p><b>8) Tensions with China escalating and we see continued derisking in ADRs: The White House is accusing China of perpetrating a massive hack of Microsoft’s email systems and will form a coalition of NATO members to condemn Beijing’s cyber activities.NYT</b></p>\n<p><b>9) Retail support has been waning MTD....(GS HIGH RETAIL SENTIMENT BASKET)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/91d1bdeccdbb13bda1edf2982fd29b9c\" tg-width=\"969\" tg-height=\"737\" width=\"100%\" height=\"auto\"></p>\n<p><b>1</b><b>0) On 1 year look back Fundamental L/S positioning has come in significantly....on a 3yr look back still elevated....</b></p>\n<p><img src=\"https://static.tigerbbs.com/588f67823e6fabf1df2586491f930477\" tg-width=\"912\" tg-height=\"105\" width=\"100%\" height=\"auto\"></p>","source":"lsy1583725640930","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Says \"Don't Buy This Dip\" And Here's Why...</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Says \"Don't Buy This Dip\" And Here's Why...\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-20 21:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188133258","content_text":"At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest period for markets...\n\n... and followed up with apredictionthat shorts will have to cover, which they did during a period in which we saw 13 out of 16 trading days hit new all time highs.\nOf course, it all came crashing down in the last 3 days when the S&P slide accelerated, culminating with a scary rout on Monday when tumbling yields sparked a panic that the US economy is headed straight into a stagflationary crash.\nAnd yet, with futures rebounding and traders clearly showing a desire to catch what has been the fastest falling knife in months, we were surprised to read that the same John Flood who correctly predicted the market ramp in the first half of July, has now flipped completely and in a note published overnight writes \"don't buy this dip.\" He explains why:\n\n I am a consistent buyer of dips but this wobble feels different and I am bracing for a weaker tape this week. Negative Covid headlines are picking up in velocity. Issuance spigots are fully turned on and this paper is getting harder to place from my seat (after some choppy px action related to issuance last week).\n\n\n99% of S&P500 companies are in buyback blackout period into next week and quant flows remain asymmetric on the supply side (AKA CTA sellers will win this tug of war).Earnings last week were great but were not rewarded (banks)...this week and next are the 2 busiest weeks of the earnings period.\n\n\n Overall market breadth continues to dissipate with FAAMG complex carrying the weight of the indices on its back. July has not been a fun month for the retail community (underlying retail bid is fading). HF length has recently come in significantly on a 1 year look back but on a 3 year basis is well above 50th percentile for both nets and grosses (still more wood to chop here). Institutional community continues to cut risk in China ADR’s post DIDI development while U.S. / China tensions rise. All eyes remain 10yr yields well below 200dma of 1.26 for first time in 2021. No need to hit the panic button but I plan on being patient with buy tickets over the next several sessions.\n\nAnd here are the 10 keybearishdevelopments Flood is monitoring:\n1) Covid headlines over the weekend were the most negative that I have seen in 2021. Here are the 5 that stood out to me...\n\nU.S. infections surged more than 60% last week, topping a 16% global increase. Delta cases may be undercounted, former FDA chief Scott Gottlieb said. The Dr. warned that the US is “vastly underestimating” the level of COVID delta spread domestically.CNBC\nThe CDC warns of a “pandemic of the unvaccinated” as cases, hospitalizations, and fatalities rise in those parts of the country with low inoculation rates.BBG\nCDC says other major US cities will probably follow LA and reimpose mask mandates as COVID statistics continue to deteriorate.FT\nFirst Olympic athletes in Tokyo test positive for COVID, just days before the games are expected to commence (Coco Gauff the highest profile U.S. athlete to withdraw)\nThe UK said travelers from France will need to quarantine for 10 days regardless of vaccination status, an announcement that “leaves holidays in disarray”.London Times\n\n2) It has been a paper party and this paper is getting harder to place. Last week we priced 11 registered deals in the U.S. ($3b notional) and this week already working on another 18 ($10b). This is especially noteworthy while in the depths of July.\n3) Only 1 week into 2Q earnings but banks telling us to expect beats but NOT TO expect these beats to be rewarded. AKA sell sides estimates are still too low and positioning remains crowded. Since JPM kicked of megacap tech bank earnings last Tuesday morning (essentially beats across the board) bank index has shed 355bps.\n4) We are in depths of corporate buyback blackout period and this will run through 7/23/21....\n5) Systematic flows are asymmetric...(AKA CTAs are sellers in a up and down tape)....\n6) Market breadth continues to deteriorate (was at ATH of 100 last month)....\n7) AKA without recent stellar price action on FAAMG the market would be in some trouble...\n\n8) Tensions with China escalating and we see continued derisking in ADRs: The White House is accusing China of perpetrating a massive hack of Microsoft’s email systems and will form a coalition of NATO members to condemn Beijing’s cyber activities.NYT\n9) Retail support has been waning MTD....(GS HIGH RETAIL SENTIMENT BASKET)....\n\n10) On 1 year look back Fundamental L/S positioning has come in significantly....on a 3yr look back still elevated....","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5282326,"gmtCreate":1626865205385,"gmtModify":1663231263527,"authorId":3582013193139368,"author":{"id":3582013193139368,"authorId":3582013193139368,"name":"XiuJ","avatar":"https://static.tigerbbs.com/2679b64d21b553ca13b45b2f03e15f76","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":178239990,"type":1,"supId":5276925,"prevId":0,"content":"Ok","text":"Ok","html":"Ok"},{"id":5276925,"gmtCreate":1626823729495,"gmtModify":1663231237029,"authorId":3567307840510045,"author":{"id":3567307840510045,"authorId":3567307840510045,"name":"JeremyKok","avatar":"https://static.tigerbbs.com/01b03a485f83b6b2615fad8ac9b87bf4","vip":1,"currentWearingBadge":{"badgeId":"7a9f168ff73447fe856ed6c938b61789-1","templateUuid":"7a9f168ff73447fe856ed6c938b61789","name":"Knowledgeable Investor","description":"Traded more than 10 stocks","bigImgUrl":"https://static.tigerbbs.com/e74cc24115c4fbae6154ec1b1041bf47","smallImgUrl":"https://static.tigerbbs.com/d48265cbfd97c57f9048db29f22227b0","grayImgUrl":"https://static.tigerbbs.com/76c6d6898b073c77e1c537ebe9ac1c57","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1102},"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":178239990,"type":1,"supId":0,"prevId":0,"content":"hi. please like and comment back. thank you.","text":"hi. please like and comment back. thank you.","html":"hi. please like and comment back. thank you."}],"langContent":"EN"},{"id":178205238,"gmtCreate":1626822261324,"gmtModify":1703765692553,"author":{"id":"3573432013960035","authorId":"3573432013960035","name":"Sphere","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":4,"crmLevelSwitch":0},"htmlText":"Rubbish","listText":"Rubbish","text":"Rubbish","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/178205238","repostId":1188133258,"repostType":4,"repost":{"id":"1188133258","pubTimestamp":1626787650,"share":"https://www.laohu8.com/m/news/1188133258?lang=&edition=full","pubTime":"2021-07-20 21:27","market":"us","language":"en","title":"Goldman Says \"Don't Buy This Dip\" And Here's Why...","url":"https://stock-news.laohu8.com/highlight/detail?id=1188133258","media":"zerohedge","summary":"At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-we","content":"<p>At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest period for markets...</p>\n<p><img src=\"https://static.tigerbbs.com/e7dc88222112e4655f492c56509f9d64\" tg-width=\"1280\" tg-height=\"467\" referrerpolicy=\"no-referrer\"></p>\n<p>... and followed up with apredictionthat shorts will have to cover, which they did during a period in which we saw 13 out of 16 trading days hit new all time highs.</p>\n<p>Of course, it all came crashing down in the last 3 days when the S&amp;P slide accelerated, culminating with a scary rout on Monday when tumbling yields sparked a panic that the US economy is headed straight into a stagflationary crash.</p>\n<p>And yet, with futures rebounding and traders clearly showing a desire to catch what has been the fastest falling knife in months, we were surprised to read that the same John Flood who correctly predicted the market ramp in the first half of July, has now flipped completely and in a note published overnight writes \"<b>don't buy this dip.</b>\" He explains why:</p>\n<blockquote>\n I am a consistent buyer of dips but this wobble feels different and I am bracing for a weaker tape this week. Negative Covid headlines are picking up in velocity. Issuance spigots are fully turned on and this paper is getting harder to place from my seat (after some choppy px action related to issuance last week).\n</blockquote>\n<blockquote>\n <b>99% of S&amp;P500 companies are in buyback blackout period into next week and quant flows remain asymmetric on the supply side (AKA CTA sellers will win this tug of war).</b>Earnings last week were great but were not rewarded (banks)...this week and next are the 2 busiest weeks of the earnings period.\n</blockquote>\n<blockquote>\n Overall market breadth continues to dissipate with FAAMG complex carrying the weight of the indices on its back. July has not been a fun month for the retail community (underlying retail bid is fading). HF length has recently come in significantly on a 1 year look back but on a 3 year basis is well above 50th percentile for both nets and grosses (still more wood to chop here). Institutional community continues to cut risk in China ADR’s post DIDI development while U.S. / China tensions rise. All eyes remain 10yr yields well below 200dma of 1.26 for first time in 2021. No need to hit the panic button but I plan on being patient with buy tickets over the next several sessions.\n</blockquote>\n<p>And here are the 10 key<i>bearish</i>developments Flood is monitoring:</p>\n<p><b>1) Covid headlines over the weekend were the most negative that I have seen in 2021. Here are the 5 that stood out to me...</b></p>\n<ul>\n <li>U.S. infections surged more than 60% last week, topping a 16% global increase. Delta cases may be undercounted, former FDA chief Scott Gottlieb said. The Dr. warned that the US is “vastly underestimating” the level of COVID delta spread domestically.CNBC</li>\n <li>The CDC warns of a “pandemic of the unvaccinated” as cases, hospitalizations, and fatalities rise in those parts of the country with low inoculation rates.BBG</li>\n <li>CDC says other major US cities will probably follow LA and reimpose mask mandates as COVID statistics continue to deteriorate.FT</li>\n <li>First Olympic athletes in Tokyo test positive for COVID, just days before the games are expected to commence (Coco Gauff the highest profile U.S. athlete to withdraw)</li>\n <li>The UK said travelers from France will need to quarantine for 10 days regardless of vaccination status, an announcement that “leaves holidays in disarray”.London Times</li>\n</ul>\n<p><b>2) It has been a paper party and this paper is getting harder to place. Last week we priced 11 registered deals in the U.S. ($3b notional) and this week already working on another 18 ($10b). This is especially noteworthy while in the depths of July.</b></p>\n<p><b>3) Only 1 week into 2Q earnings but banks telling us to expect beats but NOT TO expect these beats to be rewarded. AKA sell sides estimates are still too low and positioning remains crowded. Since JPM kicked of megacap tech bank earnings last Tuesday morning (essentially beats across the board) bank index has shed 355bps.</b></p>\n<p><b>4) We are in depths of corporate buyback blackout period and this will run through 7/23/21....</b></p>\n<p><img src=\"https://static.tigerbbs.com/2aaf1e5d45694a097b50a91dbde1c820\" tg-width=\"500\" tg-height=\"271\" referrerpolicy=\"no-referrer\"><b>5) Systematic flows are asymmetric...(AKA CTAs are sellers in a up and down tape)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/4bba4d70220e9707ea2844810c1a10b2\" tg-width=\"866\" tg-height=\"381\" referrerpolicy=\"no-referrer\"><b>6) Market breadth continues to deteriorate (was at ATH of 100 last month)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/39de9052680301024db46173d0dce29f\" tg-width=\"507\" tg-height=\"405\" referrerpolicy=\"no-referrer\"><b>7) AKA without recent stellar price action on FAAMG the market would be in some trouble...</b></p>\n<p><img src=\"https://static.tigerbbs.com/0ae0c7eead73ad8dc2ecc63bcbd9e27e\" tg-width=\"500\" tg-height=\"385\" referrerpolicy=\"no-referrer\"></p>\n<p><b>8) Tensions with China escalating and we see continued derisking in ADRs: The White House is accusing China of perpetrating a massive hack of Microsoft’s email systems and will form a coalition of NATO members to condemn Beijing’s cyber activities.NYT</b></p>\n<p><b>9) Retail support has been waning MTD....(GS HIGH RETAIL SENTIMENT BASKET)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/91d1bdeccdbb13bda1edf2982fd29b9c\" tg-width=\"969\" tg-height=\"737\" width=\"100%\" height=\"auto\"></p>\n<p><b>1</b><b>0) On 1 year look back Fundamental L/S positioning has come in significantly....on a 3yr look back still elevated....</b></p>\n<p><img src=\"https://static.tigerbbs.com/588f67823e6fabf1df2586491f930477\" tg-width=\"912\" tg-height=\"105\" width=\"100%\" height=\"auto\"></p>","source":"lsy1583725640930","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Says \"Don't Buy This Dip\" And Here's Why...</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; 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height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Says \"Don't Buy This Dip\" And Here's Why...\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-20 21:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188133258","content_text":"At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest period for markets...\n\n... and followed up with apredictionthat shorts will have to cover, which they did during a period in which we saw 13 out of 16 trading days hit new all time highs.\nOf course, it all came crashing down in the last 3 days when the S&P slide accelerated, culminating with a scary rout on Monday when tumbling yields sparked a panic that the US economy is headed straight into a stagflationary crash.\nAnd yet, with futures rebounding and traders clearly showing a desire to catch what has been the fastest falling knife in months, we were surprised to read that the same John Flood who correctly predicted the market ramp in the first half of July, has now flipped completely and in a note published overnight writes \"don't buy this dip.\" He explains why:\n\n I am a consistent buyer of dips but this wobble feels different and I am bracing for a weaker tape this week. Negative Covid headlines are picking up in velocity. Issuance spigots are fully turned on and this paper is getting harder to place from my seat (after some choppy px action related to issuance last week).\n\n\n99% of S&P500 companies are in buyback blackout period into next week and quant flows remain asymmetric on the supply side (AKA CTA sellers will win this tug of war).Earnings last week were great but were not rewarded (banks)...this week and next are the 2 busiest weeks of the earnings period.\n\n\n Overall market breadth continues to dissipate with FAAMG complex carrying the weight of the indices on its back. July has not been a fun month for the retail community (underlying retail bid is fading). HF length has recently come in significantly on a 1 year look back but on a 3 year basis is well above 50th percentile for both nets and grosses (still more wood to chop here). Institutional community continues to cut risk in China ADR’s post DIDI development while U.S. / China tensions rise. All eyes remain 10yr yields well below 200dma of 1.26 for first time in 2021. No need to hit the panic button but I plan on being patient with buy tickets over the next several sessions.\n\nAnd here are the 10 keybearishdevelopments Flood is monitoring:\n1) Covid headlines over the weekend were the most negative that I have seen in 2021. Here are the 5 that stood out to me...\n\nU.S. infections surged more than 60% last week, topping a 16% global increase. Delta cases may be undercounted, former FDA chief Scott Gottlieb said. The Dr. warned that the US is “vastly underestimating” the level of COVID delta spread domestically.CNBC\nThe CDC warns of a “pandemic of the unvaccinated” as cases, hospitalizations, and fatalities rise in those parts of the country with low inoculation rates.BBG\nCDC says other major US cities will probably follow LA and reimpose mask mandates as COVID statistics continue to deteriorate.FT\nFirst Olympic athletes in Tokyo test positive for COVID, just days before the games are expected to commence (Coco Gauff the highest profile U.S. athlete to withdraw)\nThe UK said travelers from France will need to quarantine for 10 days regardless of vaccination status, an announcement that “leaves holidays in disarray”.London Times\n\n2) It has been a paper party and this paper is getting harder to place. Last week we priced 11 registered deals in the U.S. ($3b notional) and this week already working on another 18 ($10b). This is especially noteworthy while in the depths of July.\n3) Only 1 week into 2Q earnings but banks telling us to expect beats but NOT TO expect these beats to be rewarded. AKA sell sides estimates are still too low and positioning remains crowded. Since JPM kicked of megacap tech bank earnings last Tuesday morning (essentially beats across the board) bank index has shed 355bps.\n4) We are in depths of corporate buyback blackout period and this will run through 7/23/21....\n5) Systematic flows are asymmetric...(AKA CTAs are sellers in a up and down tape)....\n6) Market breadth continues to deteriorate (was at ATH of 100 last month)....\n7) AKA without recent stellar price action on FAAMG the market would be in some trouble...\n\n8) Tensions with China escalating and we see continued derisking in ADRs: The White House is accusing China of perpetrating a massive hack of Microsoft’s email systems and will form a coalition of NATO members to condemn Beijing’s cyber activities.NYT\n9) Retail support has been waning MTD....(GS HIGH RETAIL SENTIMENT BASKET)....\n\n10) On 1 year look back Fundamental L/S positioning has come in significantly....on a 3yr look back still elevated....","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5276539,"gmtCreate":1626822272594,"gmtModify":1663231235526,"authorId":3573432013960035,"author":{"id":3573432013960035,"authorId":3573432013960035,"name":"Sphere","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":178205238,"type":1,"supId":0,"prevId":0,"content":"Up","text":"Up","html":"Up"}],"langContent":"EN"},{"id":178203885,"gmtCreate":1626821939947,"gmtModify":1703765686686,"author":{"id":"3567947484816361","authorId":"3567947484816361","name":"AnneSeow","avatar":"https://static.tigerbbs.com/af241d9fa0eaef494f7eacd71d4e78e7","vip":1,"crmLevel":3,"crmLevelSwitch":0},"htmlText":"Bullet","listText":"Bullet","text":"Bullet","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":13,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/178203885","repostId":1188133258,"repostType":2,"repost":{"id":"1188133258","pubTimestamp":1626787650,"share":"https://www.laohu8.com/m/news/1188133258?lang=&edition=full","pubTime":"2021-07-20 21:27","market":"us","language":"en","title":"Goldman Says \"Don't Buy This Dip\" And Here's Why...","url":"https://stock-news.laohu8.com/highlight/detail?id=1188133258","media":"zerohedge","summary":"At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-we","content":"<p>At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest period for markets...</p>\n<p><img src=\"https://static.tigerbbs.com/e7dc88222112e4655f492c56509f9d64\" tg-width=\"1280\" tg-height=\"467\" referrerpolicy=\"no-referrer\"></p>\n<p>... and followed up with apredictionthat shorts will have to cover, which they did during a period in which we saw 13 out of 16 trading days hit new all time highs.</p>\n<p>Of course, it all came crashing down in the last 3 days when the S&amp;P slide accelerated, culminating with a scary rout on Monday when tumbling yields sparked a panic that the US economy is headed straight into a stagflationary crash.</p>\n<p>And yet, with futures rebounding and traders clearly showing a desire to catch what has been the fastest falling knife in months, we were surprised to read that the same John Flood who correctly predicted the market ramp in the first half of July, has now flipped completely and in a note published overnight writes \"<b>don't buy this dip.</b>\" He explains why:</p>\n<blockquote>\n I am a consistent buyer of dips but this wobble feels different and I am bracing for a weaker tape this week. Negative Covid headlines are picking up in velocity. Issuance spigots are fully turned on and this paper is getting harder to place from my seat (after some choppy px action related to issuance last week).\n</blockquote>\n<blockquote>\n <b>99% of S&amp;P500 companies are in buyback blackout period into next week and quant flows remain asymmetric on the supply side (AKA CTA sellers will win this tug of war).</b>Earnings last week were great but were not rewarded (banks)...this week and next are the 2 busiest weeks of the earnings period.\n</blockquote>\n<blockquote>\n Overall market breadth continues to dissipate with FAAMG complex carrying the weight of the indices on its back. July has not been a fun month for the retail community (underlying retail bid is fading). HF length has recently come in significantly on a 1 year look back but on a 3 year basis is well above 50th percentile for both nets and grosses (still more wood to chop here). Institutional community continues to cut risk in China ADR’s post DIDI development while U.S. / China tensions rise. All eyes remain 10yr yields well below 200dma of 1.26 for first time in 2021. No need to hit the panic button but I plan on being patient with buy tickets over the next several sessions.\n</blockquote>\n<p>And here are the 10 key<i>bearish</i>developments Flood is monitoring:</p>\n<p><b>1) Covid headlines over the weekend were the most negative that I have seen in 2021. Here are the 5 that stood out to me...</b></p>\n<ul>\n <li>U.S. infections surged more than 60% last week, topping a 16% global increase. Delta cases may be undercounted, former FDA chief Scott Gottlieb said. The Dr. warned that the US is “vastly underestimating” the level of COVID delta spread domestically.CNBC</li>\n <li>The CDC warns of a “pandemic of the unvaccinated” as cases, hospitalizations, and fatalities rise in those parts of the country with low inoculation rates.BBG</li>\n <li>CDC says other major US cities will probably follow LA and reimpose mask mandates as COVID statistics continue to deteriorate.FT</li>\n <li>First Olympic athletes in Tokyo test positive for COVID, just days before the games are expected to commence (Coco Gauff the highest profile U.S. athlete to withdraw)</li>\n <li>The UK said travelers from France will need to quarantine for 10 days regardless of vaccination status, an announcement that “leaves holidays in disarray”.London Times</li>\n</ul>\n<p><b>2) It has been a paper party and this paper is getting harder to place. Last week we priced 11 registered deals in the U.S. ($3b notional) and this week already working on another 18 ($10b). This is especially noteworthy while in the depths of July.</b></p>\n<p><b>3) Only 1 week into 2Q earnings but banks telling us to expect beats but NOT TO expect these beats to be rewarded. AKA sell sides estimates are still too low and positioning remains crowded. Since JPM kicked of megacap tech bank earnings last Tuesday morning (essentially beats across the board) bank index has shed 355bps.</b></p>\n<p><b>4) We are in depths of corporate buyback blackout period and this will run through 7/23/21....</b></p>\n<p><img src=\"https://static.tigerbbs.com/2aaf1e5d45694a097b50a91dbde1c820\" tg-width=\"500\" tg-height=\"271\" referrerpolicy=\"no-referrer\"><b>5) Systematic flows are asymmetric...(AKA CTAs are sellers in a up and down tape)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/4bba4d70220e9707ea2844810c1a10b2\" tg-width=\"866\" tg-height=\"381\" referrerpolicy=\"no-referrer\"><b>6) Market breadth continues to deteriorate (was at ATH of 100 last month)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/39de9052680301024db46173d0dce29f\" tg-width=\"507\" tg-height=\"405\" referrerpolicy=\"no-referrer\"><b>7) AKA without recent stellar price action on FAAMG the market would be in some trouble...</b></p>\n<p><img src=\"https://static.tigerbbs.com/0ae0c7eead73ad8dc2ecc63bcbd9e27e\" tg-width=\"500\" tg-height=\"385\" referrerpolicy=\"no-referrer\"></p>\n<p><b>8) Tensions with China escalating and we see continued derisking in ADRs: The White House is accusing China of perpetrating a massive hack of Microsoft’s email systems and will form a coalition of NATO members to condemn Beijing’s cyber activities.NYT</b></p>\n<p><b>9) Retail support has been waning MTD....(GS HIGH RETAIL SENTIMENT BASKET)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/91d1bdeccdbb13bda1edf2982fd29b9c\" tg-width=\"969\" tg-height=\"737\" width=\"100%\" height=\"auto\"></p>\n<p><b>1</b><b>0) On 1 year look back Fundamental L/S positioning has come in significantly....on a 3yr look back still elevated....</b></p>\n<p><img src=\"https://static.tigerbbs.com/588f67823e6fabf1df2586491f930477\" tg-width=\"912\" tg-height=\"105\" width=\"100%\" height=\"auto\"></p>","source":"lsy1583725640930","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Says \"Don't Buy This Dip\" And Here's Why...</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Says \"Don't Buy This Dip\" And Here's Why...\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-20 21:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188133258","content_text":"At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest period for markets...\n\n... and followed up with apredictionthat shorts will have to cover, which they did during a period in which we saw 13 out of 16 trading days hit new all time highs.\nOf course, it all came crashing down in the last 3 days when the S&P slide accelerated, culminating with a scary rout on Monday when tumbling yields sparked a panic that the US economy is headed straight into a stagflationary crash.\nAnd yet, with futures rebounding and traders clearly showing a desire to catch what has been the fastest falling knife in months, we were surprised to read that the same John Flood who correctly predicted the market ramp in the first half of July, has now flipped completely and in a note published overnight writes \"don't buy this dip.\" He explains why:\n\n I am a consistent buyer of dips but this wobble feels different and I am bracing for a weaker tape this week. Negative Covid headlines are picking up in velocity. Issuance spigots are fully turned on and this paper is getting harder to place from my seat (after some choppy px action related to issuance last week).\n\n\n99% of S&P500 companies are in buyback blackout period into next week and quant flows remain asymmetric on the supply side (AKA CTA sellers will win this tug of war).Earnings last week were great but were not rewarded (banks)...this week and next are the 2 busiest weeks of the earnings period.\n\n\n Overall market breadth continues to dissipate with FAAMG complex carrying the weight of the indices on its back. July has not been a fun month for the retail community (underlying retail bid is fading). HF length has recently come in significantly on a 1 year look back but on a 3 year basis is well above 50th percentile for both nets and grosses (still more wood to chop here). Institutional community continues to cut risk in China ADR’s post DIDI development while U.S. / China tensions rise. All eyes remain 10yr yields well below 200dma of 1.26 for first time in 2021. No need to hit the panic button but I plan on being patient with buy tickets over the next several sessions.\n\nAnd here are the 10 keybearishdevelopments Flood is monitoring:\n1) Covid headlines over the weekend were the most negative that I have seen in 2021. Here are the 5 that stood out to me...\n\nU.S. infections surged more than 60% last week, topping a 16% global increase. Delta cases may be undercounted, former FDA chief Scott Gottlieb said. The Dr. warned that the US is “vastly underestimating” the level of COVID delta spread domestically.CNBC\nThe CDC warns of a “pandemic of the unvaccinated” as cases, hospitalizations, and fatalities rise in those parts of the country with low inoculation rates.BBG\nCDC says other major US cities will probably follow LA and reimpose mask mandates as COVID statistics continue to deteriorate.FT\nFirst Olympic athletes in Tokyo test positive for COVID, just days before the games are expected to commence (Coco Gauff the highest profile U.S. athlete to withdraw)\nThe UK said travelers from France will need to quarantine for 10 days regardless of vaccination status, an announcement that “leaves holidays in disarray”.London Times\n\n2) It has been a paper party and this paper is getting harder to place. Last week we priced 11 registered deals in the U.S. ($3b notional) and this week already working on another 18 ($10b). This is especially noteworthy while in the depths of July.\n3) Only 1 week into 2Q earnings but banks telling us to expect beats but NOT TO expect these beats to be rewarded. AKA sell sides estimates are still too low and positioning remains crowded. Since JPM kicked of megacap tech bank earnings last Tuesday morning (essentially beats across the board) bank index has shed 355bps.\n4) We are in depths of corporate buyback blackout period and this will run through 7/23/21....\n5) Systematic flows are asymmetric...(AKA CTAs are sellers in a up and down tape)....\n6) Market breadth continues to deteriorate (was at ATH of 100 last month)....\n7) AKA without recent stellar price action on FAAMG the market would be in some trouble...\n\n8) Tensions with China escalating and we see continued derisking in ADRs: The White House is accusing China of perpetrating a massive hack of Microsoft’s email systems and will form a coalition of NATO members to condemn Beijing’s cyber activities.NYT\n9) Retail support has been waning MTD....(GS HIGH RETAIL SENTIMENT BASKET)....\n\n10) On 1 year look back Fundamental L/S positioning has come in significantly....on a 3yr look back still elevated....","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5278657,"gmtCreate":1626831697491,"gmtModify":1663231246626,"authorId":3564612867752023,"author":{"id":3564612867752023,"authorId":3564612867752023,"name":"SamLim","avatar":"https://static.tigerbbs.com/79cf73cb8f8b744900d546f6d85152ba","vip":1,"currentWearingBadge":{"badgeId":"a83d7582f45846ffbccbce770ce65d84-1","templateUuid":"a83d7582f45846ffbccbce770ce65d84","name":"Real Trader","description":"Completed a transaction","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1100},"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":178203885,"type":1,"supId":0,"prevId":0,"content":"?","text":"?","html":"?"}],"langContent":"EN"},{"id":178678073,"gmtCreate":1626821384092,"gmtModify":1703765675600,"author":{"id":"3585452666972742","authorId":"3585452666972742","name":"JoelSeah","avatar":"https://static.tigerbbs.com/7209ed7c109a0f0d11e650747fe83336","vip":1,"crmLevel":3,"crmLevelSwitch":0},"htmlText":"Make your own judgement","listText":"Make your own judgement","text":"Make your own judgement","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/178678073","repostId":1188133258,"repostType":4,"repost":{"id":"1188133258","pubTimestamp":1626787650,"share":"https://www.laohu8.com/m/news/1188133258?lang=&edition=full","pubTime":"2021-07-20 21:27","market":"us","language":"en","title":"Goldman Says \"Don't Buy This Dip\" And Here's Why...","url":"https://stock-news.laohu8.com/highlight/detail?id=1188133258","media":"zerohedge","summary":"At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-we","content":"<p>At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest period for markets...</p>\n<p><img src=\"https://static.tigerbbs.com/e7dc88222112e4655f492c56509f9d64\" tg-width=\"1280\" tg-height=\"467\" referrerpolicy=\"no-referrer\"></p>\n<p>... and followed up with apredictionthat shorts will have to cover, which they did during a period in which we saw 13 out of 16 trading days hit new all time highs.</p>\n<p>Of course, it all came crashing down in the last 3 days when the S&amp;P slide accelerated, culminating with a scary rout on Monday when tumbling yields sparked a panic that the US economy is headed straight into a stagflationary crash.</p>\n<p>And yet, with futures rebounding and traders clearly showing a desire to catch what has been the fastest falling knife in months, we were surprised to read that the same John Flood who correctly predicted the market ramp in the first half of July, has now flipped completely and in a note published overnight writes \"<b>don't buy this dip.</b>\" He explains why:</p>\n<blockquote>\n I am a consistent buyer of dips but this wobble feels different and I am bracing for a weaker tape this week. Negative Covid headlines are picking up in velocity. Issuance spigots are fully turned on and this paper is getting harder to place from my seat (after some choppy px action related to issuance last week).\n</blockquote>\n<blockquote>\n <b>99% of S&amp;P500 companies are in buyback blackout period into next week and quant flows remain asymmetric on the supply side (AKA CTA sellers will win this tug of war).</b>Earnings last week were great but were not rewarded (banks)...this week and next are the 2 busiest weeks of the earnings period.\n</blockquote>\n<blockquote>\n Overall market breadth continues to dissipate with FAAMG complex carrying the weight of the indices on its back. July has not been a fun month for the retail community (underlying retail bid is fading). HF length has recently come in significantly on a 1 year look back but on a 3 year basis is well above 50th percentile for both nets and grosses (still more wood to chop here). Institutional community continues to cut risk in China ADR’s post DIDI development while U.S. / China tensions rise. All eyes remain 10yr yields well below 200dma of 1.26 for first time in 2021. No need to hit the panic button but I plan on being patient with buy tickets over the next several sessions.\n</blockquote>\n<p>And here are the 10 key<i>bearish</i>developments Flood is monitoring:</p>\n<p><b>1) Covid headlines over the weekend were the most negative that I have seen in 2021. Here are the 5 that stood out to me...</b></p>\n<ul>\n <li>U.S. infections surged more than 60% last week, topping a 16% global increase. Delta cases may be undercounted, former FDA chief Scott Gottlieb said. The Dr. warned that the US is “vastly underestimating” the level of COVID delta spread domestically.CNBC</li>\n <li>The CDC warns of a “pandemic of the unvaccinated” as cases, hospitalizations, and fatalities rise in those parts of the country with low inoculation rates.BBG</li>\n <li>CDC says other major US cities will probably follow LA and reimpose mask mandates as COVID statistics continue to deteriorate.FT</li>\n <li>First Olympic athletes in Tokyo test positive for COVID, just days before the games are expected to commence (Coco Gauff the highest profile U.S. athlete to withdraw)</li>\n <li>The UK said travelers from France will need to quarantine for 10 days regardless of vaccination status, an announcement that “leaves holidays in disarray”.London Times</li>\n</ul>\n<p><b>2) It has been a paper party and this paper is getting harder to place. Last week we priced 11 registered deals in the U.S. ($3b notional) and this week already working on another 18 ($10b). This is especially noteworthy while in the depths of July.</b></p>\n<p><b>3) Only 1 week into 2Q earnings but banks telling us to expect beats but NOT TO expect these beats to be rewarded. AKA sell sides estimates are still too low and positioning remains crowded. Since JPM kicked of megacap tech bank earnings last Tuesday morning (essentially beats across the board) bank index has shed 355bps.</b></p>\n<p><b>4) We are in depths of corporate buyback blackout period and this will run through 7/23/21....</b></p>\n<p><img src=\"https://static.tigerbbs.com/2aaf1e5d45694a097b50a91dbde1c820\" tg-width=\"500\" tg-height=\"271\" referrerpolicy=\"no-referrer\"><b>5) Systematic flows are asymmetric...(AKA CTAs are sellers in a up and down tape)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/4bba4d70220e9707ea2844810c1a10b2\" tg-width=\"866\" tg-height=\"381\" referrerpolicy=\"no-referrer\"><b>6) Market breadth continues to deteriorate (was at ATH of 100 last month)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/39de9052680301024db46173d0dce29f\" tg-width=\"507\" tg-height=\"405\" referrerpolicy=\"no-referrer\"><b>7) AKA without recent stellar price action on FAAMG the market would be in some trouble...</b></p>\n<p><img src=\"https://static.tigerbbs.com/0ae0c7eead73ad8dc2ecc63bcbd9e27e\" tg-width=\"500\" tg-height=\"385\" referrerpolicy=\"no-referrer\"></p>\n<p><b>8) Tensions with China escalating and we see continued derisking in ADRs: The White House is accusing China of perpetrating a massive hack of Microsoft’s email systems and will form a coalition of NATO members to condemn Beijing’s cyber activities.NYT</b></p>\n<p><b>9) Retail support has been waning MTD....(GS HIGH RETAIL SENTIMENT BASKET)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/91d1bdeccdbb13bda1edf2982fd29b9c\" tg-width=\"969\" tg-height=\"737\" width=\"100%\" height=\"auto\"></p>\n<p><b>1</b><b>0) On 1 year look back Fundamental L/S positioning has come in significantly....on a 3yr look back still elevated....</b></p>\n<p><img src=\"https://static.tigerbbs.com/588f67823e6fabf1df2586491f930477\" tg-width=\"912\" tg-height=\"105\" width=\"100%\" height=\"auto\"></p>","source":"lsy1583725640930","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Says \"Don't Buy This Dip\" And Here's Why...</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Says \"Don't Buy This Dip\" And Here's Why...\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-20 21:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188133258","content_text":"At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest period for markets...\n\n... and followed up with apredictionthat shorts will have to cover, which they did during a period in which we saw 13 out of 16 trading days hit new all time highs.\nOf course, it all came crashing down in the last 3 days when the S&P slide accelerated, culminating with a scary rout on Monday when tumbling yields sparked a panic that the US economy is headed straight into a stagflationary crash.\nAnd yet, with futures rebounding and traders clearly showing a desire to catch what has been the fastest falling knife in months, we were surprised to read that the same John Flood who correctly predicted the market ramp in the first half of July, has now flipped completely and in a note published overnight writes \"don't buy this dip.\" He explains why:\n\n I am a consistent buyer of dips but this wobble feels different and I am bracing for a weaker tape this week. Negative Covid headlines are picking up in velocity. Issuance spigots are fully turned on and this paper is getting harder to place from my seat (after some choppy px action related to issuance last week).\n\n\n99% of S&P500 companies are in buyback blackout period into next week and quant flows remain asymmetric on the supply side (AKA CTA sellers will win this tug of war).Earnings last week were great but were not rewarded (banks)...this week and next are the 2 busiest weeks of the earnings period.\n\n\n Overall market breadth continues to dissipate with FAAMG complex carrying the weight of the indices on its back. July has not been a fun month for the retail community (underlying retail bid is fading). HF length has recently come in significantly on a 1 year look back but on a 3 year basis is well above 50th percentile for both nets and grosses (still more wood to chop here). Institutional community continues to cut risk in China ADR’s post DIDI development while U.S. / China tensions rise. All eyes remain 10yr yields well below 200dma of 1.26 for first time in 2021. No need to hit the panic button but I plan on being patient with buy tickets over the next several sessions.\n\nAnd here are the 10 keybearishdevelopments Flood is monitoring:\n1) Covid headlines over the weekend were the most negative that I have seen in 2021. Here are the 5 that stood out to me...\n\nU.S. infections surged more than 60% last week, topping a 16% global increase. Delta cases may be undercounted, former FDA chief Scott Gottlieb said. The Dr. warned that the US is “vastly underestimating” the level of COVID delta spread domestically.CNBC\nThe CDC warns of a “pandemic of the unvaccinated” as cases, hospitalizations, and fatalities rise in those parts of the country with low inoculation rates.BBG\nCDC says other major US cities will probably follow LA and reimpose mask mandates as COVID statistics continue to deteriorate.FT\nFirst Olympic athletes in Tokyo test positive for COVID, just days before the games are expected to commence (Coco Gauff the highest profile U.S. athlete to withdraw)\nThe UK said travelers from France will need to quarantine for 10 days regardless of vaccination status, an announcement that “leaves holidays in disarray”.London Times\n\n2) It has been a paper party and this paper is getting harder to place. Last week we priced 11 registered deals in the U.S. ($3b notional) and this week already working on another 18 ($10b). This is especially noteworthy while in the depths of July.\n3) Only 1 week into 2Q earnings but banks telling us to expect beats but NOT TO expect these beats to be rewarded. AKA sell sides estimates are still too low and positioning remains crowded. Since JPM kicked of megacap tech bank earnings last Tuesday morning (essentially beats across the board) bank index has shed 355bps.\n4) We are in depths of corporate buyback blackout period and this will run through 7/23/21....\n5) Systematic flows are asymmetric...(AKA CTAs are sellers in a up and down tape)....\n6) Market breadth continues to deteriorate (was at ATH of 100 last month)....\n7) AKA without recent stellar price action on FAAMG the market would be in some trouble...\n\n8) Tensions with China escalating and we see continued derisking in ADRs: The White House is accusing China of perpetrating a massive hack of Microsoft’s email systems and will form a coalition of NATO members to condemn Beijing’s cyber activities.NYT\n9) Retail support has been waning MTD....(GS HIGH RETAIL SENTIMENT BASKET)....\n\n10) On 1 year look back Fundamental L/S positioning has come in significantly....on a 3yr look back still elevated....","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":178643289,"gmtCreate":1626820617541,"gmtModify":1703765658362,"author":{"id":"3582778215220668","authorId":"3582778215220668","name":"sook","avatar":"https://static.itradeup.com/news/f08e4fcd131020f51c0a44c6a9d2a4d9","vip":1,"crmLevel":4,"crmLevelSwitch":0},"htmlText":"It looks unpredictable. Depends on the virus and how people are responding. I think economists can't predict that&nbsp;","listText":"It looks unpredictable. Depends on the virus and how people are responding. I think economists can't predict that&nbsp;","text":"It looks unpredictable. Depends on the virus and how people are responding. I think economists can't predict that","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/178643289","repostId":1188133258,"repostType":4,"repost":{"id":"1188133258","pubTimestamp":1626787650,"share":"https://www.laohu8.com/m/news/1188133258?lang=&edition=full","pubTime":"2021-07-20 21:27","market":"us","language":"en","title":"Goldman Says \"Don't Buy This Dip\" And Here's Why...","url":"https://stock-news.laohu8.com/highlight/detail?id=1188133258","media":"zerohedge","summary":"At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-we","content":"<p>At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest period for markets...</p>\n<p><img src=\"https://static.tigerbbs.com/e7dc88222112e4655f492c56509f9d64\" tg-width=\"1280\" tg-height=\"467\" referrerpolicy=\"no-referrer\"></p>\n<p>... and followed up with apredictionthat shorts will have to cover, which they did during a period in which we saw 13 out of 16 trading days hit new all time highs.</p>\n<p>Of course, it all came crashing down in the last 3 days when the S&amp;P slide accelerated, culminating with a scary rout on Monday when tumbling yields sparked a panic that the US economy is headed straight into a stagflationary crash.</p>\n<p>And yet, with futures rebounding and traders clearly showing a desire to catch what has been the fastest falling knife in months, we were surprised to read that the same John Flood who correctly predicted the market ramp in the first half of July, has now flipped completely and in a note published overnight writes \"<b>don't buy this dip.</b>\" He explains why:</p>\n<blockquote>\n I am a consistent buyer of dips but this wobble feels different and I am bracing for a weaker tape this week. Negative Covid headlines are picking up in velocity. Issuance spigots are fully turned on and this paper is getting harder to place from my seat (after some choppy px action related to issuance last week).\n</blockquote>\n<blockquote>\n <b>99% of S&amp;P500 companies are in buyback blackout period into next week and quant flows remain asymmetric on the supply side (AKA CTA sellers will win this tug of war).</b>Earnings last week were great but were not rewarded (banks)...this week and next are the 2 busiest weeks of the earnings period.\n</blockquote>\n<blockquote>\n Overall market breadth continues to dissipate with FAAMG complex carrying the weight of the indices on its back. July has not been a fun month for the retail community (underlying retail bid is fading). HF length has recently come in significantly on a 1 year look back but on a 3 year basis is well above 50th percentile for both nets and grosses (still more wood to chop here). Institutional community continues to cut risk in China ADR’s post DIDI development while U.S. / China tensions rise. All eyes remain 10yr yields well below 200dma of 1.26 for first time in 2021. No need to hit the panic button but I plan on being patient with buy tickets over the next several sessions.\n</blockquote>\n<p>And here are the 10 key<i>bearish</i>developments Flood is monitoring:</p>\n<p><b>1) Covid headlines over the weekend were the most negative that I have seen in 2021. Here are the 5 that stood out to me...</b></p>\n<ul>\n <li>U.S. infections surged more than 60% last week, topping a 16% global increase. Delta cases may be undercounted, former FDA chief Scott Gottlieb said. The Dr. warned that the US is “vastly underestimating” the level of COVID delta spread domestically.CNBC</li>\n <li>The CDC warns of a “pandemic of the unvaccinated” as cases, hospitalizations, and fatalities rise in those parts of the country with low inoculation rates.BBG</li>\n <li>CDC says other major US cities will probably follow LA and reimpose mask mandates as COVID statistics continue to deteriorate.FT</li>\n <li>First Olympic athletes in Tokyo test positive for COVID, just days before the games are expected to commence (Coco Gauff the highest profile U.S. athlete to withdraw)</li>\n <li>The UK said travelers from France will need to quarantine for 10 days regardless of vaccination status, an announcement that “leaves holidays in disarray”.London Times</li>\n</ul>\n<p><b>2) It has been a paper party and this paper is getting harder to place. Last week we priced 11 registered deals in the U.S. ($3b notional) and this week already working on another 18 ($10b). This is especially noteworthy while in the depths of July.</b></p>\n<p><b>3) Only 1 week into 2Q earnings but banks telling us to expect beats but NOT TO expect these beats to be rewarded. AKA sell sides estimates are still too low and positioning remains crowded. Since JPM kicked of megacap tech bank earnings last Tuesday morning (essentially beats across the board) bank index has shed 355bps.</b></p>\n<p><b>4) We are in depths of corporate buyback blackout period and this will run through 7/23/21....</b></p>\n<p><img src=\"https://static.tigerbbs.com/2aaf1e5d45694a097b50a91dbde1c820\" tg-width=\"500\" tg-height=\"271\" referrerpolicy=\"no-referrer\"><b>5) Systematic flows are asymmetric...(AKA CTAs are sellers in a up and down tape)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/4bba4d70220e9707ea2844810c1a10b2\" tg-width=\"866\" tg-height=\"381\" referrerpolicy=\"no-referrer\"><b>6) Market breadth continues to deteriorate (was at ATH of 100 last month)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/39de9052680301024db46173d0dce29f\" tg-width=\"507\" tg-height=\"405\" referrerpolicy=\"no-referrer\"><b>7) AKA without recent stellar price action on FAAMG the market would be in some trouble...</b></p>\n<p><img src=\"https://static.tigerbbs.com/0ae0c7eead73ad8dc2ecc63bcbd9e27e\" tg-width=\"500\" tg-height=\"385\" referrerpolicy=\"no-referrer\"></p>\n<p><b>8) Tensions with China escalating and we see continued derisking in ADRs: The White House is accusing China of perpetrating a massive hack of Microsoft’s email systems and will form a coalition of NATO members to condemn Beijing’s cyber activities.NYT</b></p>\n<p><b>9) Retail support has been waning MTD....(GS HIGH RETAIL SENTIMENT BASKET)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/91d1bdeccdbb13bda1edf2982fd29b9c\" tg-width=\"969\" tg-height=\"737\" width=\"100%\" height=\"auto\"></p>\n<p><b>1</b><b>0) On 1 year look back Fundamental L/S positioning has come in significantly....on a 3yr look back still elevated....</b></p>\n<p><img src=\"https://static.tigerbbs.com/588f67823e6fabf1df2586491f930477\" tg-width=\"912\" tg-height=\"105\" width=\"100%\" height=\"auto\"></p>","source":"lsy1583725640930","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Says \"Don't Buy This Dip\" And Here's Why...</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Says \"Don't Buy This Dip\" And Here's Why...\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-20 21:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188133258","content_text":"At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest period for markets...\n\n... and followed up with apredictionthat shorts will have to cover, which they did during a period in which we saw 13 out of 16 trading days hit new all time highs.\nOf course, it all came crashing down in the last 3 days when the S&P slide accelerated, culminating with a scary rout on Monday when tumbling yields sparked a panic that the US economy is headed straight into a stagflationary crash.\nAnd yet, with futures rebounding and traders clearly showing a desire to catch what has been the fastest falling knife in months, we were surprised to read that the same John Flood who correctly predicted the market ramp in the first half of July, has now flipped completely and in a note published overnight writes \"don't buy this dip.\" He explains why:\n\n I am a consistent buyer of dips but this wobble feels different and I am bracing for a weaker tape this week. Negative Covid headlines are picking up in velocity. Issuance spigots are fully turned on and this paper is getting harder to place from my seat (after some choppy px action related to issuance last week).\n\n\n99% of S&P500 companies are in buyback blackout period into next week and quant flows remain asymmetric on the supply side (AKA CTA sellers will win this tug of war).Earnings last week were great but were not rewarded (banks)...this week and next are the 2 busiest weeks of the earnings period.\n\n\n Overall market breadth continues to dissipate with FAAMG complex carrying the weight of the indices on its back. July has not been a fun month for the retail community (underlying retail bid is fading). HF length has recently come in significantly on a 1 year look back but on a 3 year basis is well above 50th percentile for both nets and grosses (still more wood to chop here). Institutional community continues to cut risk in China ADR’s post DIDI development while U.S. / China tensions rise. All eyes remain 10yr yields well below 200dma of 1.26 for first time in 2021. No need to hit the panic button but I plan on being patient with buy tickets over the next several sessions.\n\nAnd here are the 10 keybearishdevelopments Flood is monitoring:\n1) Covid headlines over the weekend were the most negative that I have seen in 2021. Here are the 5 that stood out to me...\n\nU.S. infections surged more than 60% last week, topping a 16% global increase. Delta cases may be undercounted, former FDA chief Scott Gottlieb said. The Dr. warned that the US is “vastly underestimating” the level of COVID delta spread domestically.CNBC\nThe CDC warns of a “pandemic of the unvaccinated” as cases, hospitalizations, and fatalities rise in those parts of the country with low inoculation rates.BBG\nCDC says other major US cities will probably follow LA and reimpose mask mandates as COVID statistics continue to deteriorate.FT\nFirst Olympic athletes in Tokyo test positive for COVID, just days before the games are expected to commence (Coco Gauff the highest profile U.S. athlete to withdraw)\nThe UK said travelers from France will need to quarantine for 10 days regardless of vaccination status, an announcement that “leaves holidays in disarray”.London Times\n\n2) It has been a paper party and this paper is getting harder to place. Last week we priced 11 registered deals in the U.S. ($3b notional) and this week already working on another 18 ($10b). This is especially noteworthy while in the depths of July.\n3) Only 1 week into 2Q earnings but banks telling us to expect beats but NOT TO expect these beats to be rewarded. AKA sell sides estimates are still too low and positioning remains crowded. Since JPM kicked of megacap tech bank earnings last Tuesday morning (essentially beats across the board) bank index has shed 355bps.\n4) We are in depths of corporate buyback blackout period and this will run through 7/23/21....\n5) Systematic flows are asymmetric...(AKA CTAs are sellers in a up and down tape)....\n6) Market breadth continues to deteriorate (was at ATH of 100 last month)....\n7) AKA without recent stellar price action on FAAMG the market would be in some trouble...\n\n8) Tensions with China escalating and we see continued derisking in ADRs: The White House is accusing China of perpetrating a massive hack of Microsoft’s email systems and will form a coalition of NATO members to condemn Beijing’s cyber activities.NYT\n9) Retail support has been waning MTD....(GS HIGH RETAIL SENTIMENT BASKET)....\n\n10) On 1 year look back Fundamental L/S positioning has come in significantly....on a 3yr look back still elevated....","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":178656902,"gmtCreate":1626820105806,"gmtModify":1703765649116,"author":{"id":"3579082097230100","authorId":"3579082097230100","name":"Gaga71","avatar":"https://static.tigerbbs.com/02afa88b95dc30f4a60767c18f9e2f39","vip":1,"crmLevel":6,"crmLevelSwitch":0},"htmlText":"Mostly lead by market sentiment guided by TA","listText":"Mostly lead by market sentiment guided by TA","text":"Mostly lead by market sentiment guided by TA","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/178656902","repostId":1188133258,"repostType":4,"repost":{"id":"1188133258","pubTimestamp":1626787650,"share":"https://www.laohu8.com/m/news/1188133258?lang=&edition=full","pubTime":"2021-07-20 21:27","market":"us","language":"en","title":"Goldman Says \"Don't Buy This Dip\" And Here's Why...","url":"https://stock-news.laohu8.com/highlight/detail?id=1188133258","media":"zerohedge","summary":"At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-we","content":"<p>At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest period for markets...</p>\n<p><img src=\"https://static.tigerbbs.com/e7dc88222112e4655f492c56509f9d64\" tg-width=\"1280\" tg-height=\"467\" referrerpolicy=\"no-referrer\"></p>\n<p>... and followed up with apredictionthat shorts will have to cover, which they did during a period in which we saw 13 out of 16 trading days hit new all time highs.</p>\n<p>Of course, it all came crashing down in the last 3 days when the S&amp;P slide accelerated, culminating with a scary rout on Monday when tumbling yields sparked a panic that the US economy is headed straight into a stagflationary crash.</p>\n<p>And yet, with futures rebounding and traders clearly showing a desire to catch what has been the fastest falling knife in months, we were surprised to read that the same John Flood who correctly predicted the market ramp in the first half of July, has now flipped completely and in a note published overnight writes \"<b>don't buy this dip.</b>\" He explains why:</p>\n<blockquote>\n I am a consistent buyer of dips but this wobble feels different and I am bracing for a weaker tape this week. Negative Covid headlines are picking up in velocity. Issuance spigots are fully turned on and this paper is getting harder to place from my seat (after some choppy px action related to issuance last week).\n</blockquote>\n<blockquote>\n <b>99% of S&amp;P500 companies are in buyback blackout period into next week and quant flows remain asymmetric on the supply side (AKA CTA sellers will win this tug of war).</b>Earnings last week were great but were not rewarded (banks)...this week and next are the 2 busiest weeks of the earnings period.\n</blockquote>\n<blockquote>\n Overall market breadth continues to dissipate with FAAMG complex carrying the weight of the indices on its back. July has not been a fun month for the retail community (underlying retail bid is fading). HF length has recently come in significantly on a 1 year look back but on a 3 year basis is well above 50th percentile for both nets and grosses (still more wood to chop here). Institutional community continues to cut risk in China ADR’s post DIDI development while U.S. / China tensions rise. All eyes remain 10yr yields well below 200dma of 1.26 for first time in 2021. No need to hit the panic button but I plan on being patient with buy tickets over the next several sessions.\n</blockquote>\n<p>And here are the 10 key<i>bearish</i>developments Flood is monitoring:</p>\n<p><b>1) Covid headlines over the weekend were the most negative that I have seen in 2021. Here are the 5 that stood out to me...</b></p>\n<ul>\n <li>U.S. infections surged more than 60% last week, topping a 16% global increase. Delta cases may be undercounted, former FDA chief Scott Gottlieb said. The Dr. warned that the US is “vastly underestimating” the level of COVID delta spread domestically.CNBC</li>\n <li>The CDC warns of a “pandemic of the unvaccinated” as cases, hospitalizations, and fatalities rise in those parts of the country with low inoculation rates.BBG</li>\n <li>CDC says other major US cities will probably follow LA and reimpose mask mandates as COVID statistics continue to deteriorate.FT</li>\n <li>First Olympic athletes in Tokyo test positive for COVID, just days before the games are expected to commence (Coco Gauff the highest profile U.S. athlete to withdraw)</li>\n <li>The UK said travelers from France will need to quarantine for 10 days regardless of vaccination status, an announcement that “leaves holidays in disarray”.London Times</li>\n</ul>\n<p><b>2) It has been a paper party and this paper is getting harder to place. Last week we priced 11 registered deals in the U.S. ($3b notional) and this week already working on another 18 ($10b). This is especially noteworthy while in the depths of July.</b></p>\n<p><b>3) Only 1 week into 2Q earnings but banks telling us to expect beats but NOT TO expect these beats to be rewarded. AKA sell sides estimates are still too low and positioning remains crowded. Since JPM kicked of megacap tech bank earnings last Tuesday morning (essentially beats across the board) bank index has shed 355bps.</b></p>\n<p><b>4) We are in depths of corporate buyback blackout period and this will run through 7/23/21....</b></p>\n<p><img src=\"https://static.tigerbbs.com/2aaf1e5d45694a097b50a91dbde1c820\" tg-width=\"500\" tg-height=\"271\" referrerpolicy=\"no-referrer\"><b>5) Systematic flows are asymmetric...(AKA CTAs are sellers in a up and down tape)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/4bba4d70220e9707ea2844810c1a10b2\" tg-width=\"866\" tg-height=\"381\" referrerpolicy=\"no-referrer\"><b>6) Market breadth continues to deteriorate (was at ATH of 100 last month)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/39de9052680301024db46173d0dce29f\" tg-width=\"507\" tg-height=\"405\" referrerpolicy=\"no-referrer\"><b>7) AKA without recent stellar price action on FAAMG the market would be in some trouble...</b></p>\n<p><img src=\"https://static.tigerbbs.com/0ae0c7eead73ad8dc2ecc63bcbd9e27e\" tg-width=\"500\" tg-height=\"385\" referrerpolicy=\"no-referrer\"></p>\n<p><b>8) Tensions with China escalating and we see continued derisking in ADRs: The White House is accusing China of perpetrating a massive hack of Microsoft’s email systems and will form a coalition of NATO members to condemn Beijing’s cyber activities.NYT</b></p>\n<p><b>9) Retail support has been waning MTD....(GS HIGH RETAIL SENTIMENT BASKET)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/91d1bdeccdbb13bda1edf2982fd29b9c\" tg-width=\"969\" tg-height=\"737\" width=\"100%\" height=\"auto\"></p>\n<p><b>1</b><b>0) On 1 year look back Fundamental L/S positioning has come in significantly....on a 3yr look back still elevated....</b></p>\n<p><img src=\"https://static.tigerbbs.com/588f67823e6fabf1df2586491f930477\" tg-width=\"912\" tg-height=\"105\" width=\"100%\" height=\"auto\"></p>","source":"lsy1583725640930","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Says \"Don't Buy This Dip\" And Here's Why...</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Says \"Don't Buy This Dip\" And Here's Why...\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-20 21:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188133258","content_text":"At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest period for markets...\n\n... and followed up with apredictionthat shorts will have to cover, which they did during a period in which we saw 13 out of 16 trading days hit new all time highs.\nOf course, it all came crashing down in the last 3 days when the S&P slide accelerated, culminating with a scary rout on Monday when tumbling yields sparked a panic that the US economy is headed straight into a stagflationary crash.\nAnd yet, with futures rebounding and traders clearly showing a desire to catch what has been the fastest falling knife in months, we were surprised to read that the same John Flood who correctly predicted the market ramp in the first half of July, has now flipped completely and in a note published overnight writes \"don't buy this dip.\" He explains why:\n\n I am a consistent buyer of dips but this wobble feels different and I am bracing for a weaker tape this week. Negative Covid headlines are picking up in velocity. Issuance spigots are fully turned on and this paper is getting harder to place from my seat (after some choppy px action related to issuance last week).\n\n\n99% of S&P500 companies are in buyback blackout period into next week and quant flows remain asymmetric on the supply side (AKA CTA sellers will win this tug of war).Earnings last week were great but were not rewarded (banks)...this week and next are the 2 busiest weeks of the earnings period.\n\n\n Overall market breadth continues to dissipate with FAAMG complex carrying the weight of the indices on its back. July has not been a fun month for the retail community (underlying retail bid is fading). HF length has recently come in significantly on a 1 year look back but on a 3 year basis is well above 50th percentile for both nets and grosses (still more wood to chop here). Institutional community continues to cut risk in China ADR’s post DIDI development while U.S. / China tensions rise. All eyes remain 10yr yields well below 200dma of 1.26 for first time in 2021. No need to hit the panic button but I plan on being patient with buy tickets over the next several sessions.\n\nAnd here are the 10 keybearishdevelopments Flood is monitoring:\n1) Covid headlines over the weekend were the most negative that I have seen in 2021. Here are the 5 that stood out to me...\n\nU.S. infections surged more than 60% last week, topping a 16% global increase. Delta cases may be undercounted, former FDA chief Scott Gottlieb said. The Dr. warned that the US is “vastly underestimating” the level of COVID delta spread domestically.CNBC\nThe CDC warns of a “pandemic of the unvaccinated” as cases, hospitalizations, and fatalities rise in those parts of the country with low inoculation rates.BBG\nCDC says other major US cities will probably follow LA and reimpose mask mandates as COVID statistics continue to deteriorate.FT\nFirst Olympic athletes in Tokyo test positive for COVID, just days before the games are expected to commence (Coco Gauff the highest profile U.S. athlete to withdraw)\nThe UK said travelers from France will need to quarantine for 10 days regardless of vaccination status, an announcement that “leaves holidays in disarray”.London Times\n\n2) It has been a paper party and this paper is getting harder to place. Last week we priced 11 registered deals in the U.S. ($3b notional) and this week already working on another 18 ($10b). This is especially noteworthy while in the depths of July.\n3) Only 1 week into 2Q earnings but banks telling us to expect beats but NOT TO expect these beats to be rewarded. AKA sell sides estimates are still too low and positioning remains crowded. Since JPM kicked of megacap tech bank earnings last Tuesday morning (essentially beats across the board) bank index has shed 355bps.\n4) We are in depths of corporate buyback blackout period and this will run through 7/23/21....\n5) Systematic flows are asymmetric...(AKA CTAs are sellers in a up and down tape)....\n6) Market breadth continues to deteriorate (was at ATH of 100 last month)....\n7) AKA without recent stellar price action on FAAMG the market would be in some trouble...\n\n8) Tensions with China escalating and we see continued derisking in ADRs: The White House is accusing China of perpetrating a massive hack of Microsoft’s email systems and will form a coalition of NATO members to condemn Beijing’s cyber activities.NYT\n9) Retail support has been waning MTD....(GS HIGH RETAIL SENTIMENT BASKET)....\n\n10) On 1 year look back Fundamental L/S positioning has come in significantly....on a 3yr look back still elevated....","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5276474,"gmtCreate":1626821927011,"gmtModify":1663231235027,"authorId":3584840087767846,"author":{"id":3584840087767846,"authorId":3584840087767846,"name":"PSYCHO82","avatar":"https://static.tigerbbs.com/c7ab6b697c630c3b99e18227fdd119f4","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":178656902,"type":1,"supId":0,"prevId":0,"content":"Agreed","text":"Agreed","html":"Agreed"},{"id":5276274,"gmtCreate":1626820629689,"gmtModify":1663231231150,"authorId":3582778215220668,"author":{"id":3582778215220668,"authorId":3582778215220668,"name":"sook","avatar":"https://static.itradeup.com/news/f08e4fcd131020f51c0a44c6a9d2a4d9","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":178656902,"type":1,"supId":0,"prevId":0,"content":"<u>agreed</u>","text":"<u>agreed</u>","html":"<u>agreed</u>"}],"langContent":"EN"},{"id":178623492,"gmtCreate":1626819047316,"gmtModify":1703765631660,"author":{"id":"3563873670221480","authorId":"3563873670221480","name":"我i168","avatar":"https://static.tigerbbs.com/34b2d0551b5ab028c13ab35747c4df8c","vip":1,"crmLevel":4,"crmLevelSwitch":1},"htmlText":"Market has spoken...the opposite! [Happy]&nbsp;[Cool]&nbsp;","listText":"Market has spoken...the opposite! [Happy]&nbsp;[Cool]&nbsp;","text":"Market has spoken...the opposite! [Happy] [Cool]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/178623492","repostId":1188133258,"repostType":4,"repost":{"id":"1188133258","pubTimestamp":1626787650,"share":"https://www.laohu8.com/m/news/1188133258?lang=&edition=full","pubTime":"2021-07-20 21:27","market":"us","language":"en","title":"Goldman Says \"Don't Buy This Dip\" And Here's Why...","url":"https://stock-news.laohu8.com/highlight/detail?id=1188133258","media":"zerohedge","summary":"At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-we","content":"<p>At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest period for markets...</p>\n<p><img src=\"https://static.tigerbbs.com/e7dc88222112e4655f492c56509f9d64\" tg-width=\"1280\" tg-height=\"467\" referrerpolicy=\"no-referrer\"></p>\n<p>... and followed up with apredictionthat shorts will have to cover, which they did during a period in which we saw 13 out of 16 trading days hit new all time highs.</p>\n<p>Of course, it all came crashing down in the last 3 days when the S&amp;P slide accelerated, culminating with a scary rout on Monday when tumbling yields sparked a panic that the US economy is headed straight into a stagflationary crash.</p>\n<p>And yet, with futures rebounding and traders clearly showing a desire to catch what has been the fastest falling knife in months, we were surprised to read that the same John Flood who correctly predicted the market ramp in the first half of July, has now flipped completely and in a note published overnight writes \"<b>don't buy this dip.</b>\" He explains why:</p>\n<blockquote>\n I am a consistent buyer of dips but this wobble feels different and I am bracing for a weaker tape this week. Negative Covid headlines are picking up in velocity. Issuance spigots are fully turned on and this paper is getting harder to place from my seat (after some choppy px action related to issuance last week).\n</blockquote>\n<blockquote>\n <b>99% of S&amp;P500 companies are in buyback blackout period into next week and quant flows remain asymmetric on the supply side (AKA CTA sellers will win this tug of war).</b>Earnings last week were great but were not rewarded (banks)...this week and next are the 2 busiest weeks of the earnings period.\n</blockquote>\n<blockquote>\n Overall market breadth continues to dissipate with FAAMG complex carrying the weight of the indices on its back. July has not been a fun month for the retail community (underlying retail bid is fading). HF length has recently come in significantly on a 1 year look back but on a 3 year basis is well above 50th percentile for both nets and grosses (still more wood to chop here). Institutional community continues to cut risk in China ADR’s post DIDI development while U.S. / China tensions rise. All eyes remain 10yr yields well below 200dma of 1.26 for first time in 2021. No need to hit the panic button but I plan on being patient with buy tickets over the next several sessions.\n</blockquote>\n<p>And here are the 10 key<i>bearish</i>developments Flood is monitoring:</p>\n<p><b>1) Covid headlines over the weekend were the most negative that I have seen in 2021. Here are the 5 that stood out to me...</b></p>\n<ul>\n <li>U.S. infections surged more than 60% last week, topping a 16% global increase. Delta cases may be undercounted, former FDA chief Scott Gottlieb said. The Dr. warned that the US is “vastly underestimating” the level of COVID delta spread domestically.CNBC</li>\n <li>The CDC warns of a “pandemic of the unvaccinated” as cases, hospitalizations, and fatalities rise in those parts of the country with low inoculation rates.BBG</li>\n <li>CDC says other major US cities will probably follow LA and reimpose mask mandates as COVID statistics continue to deteriorate.FT</li>\n <li>First Olympic athletes in Tokyo test positive for COVID, just days before the games are expected to commence (Coco Gauff the highest profile U.S. athlete to withdraw)</li>\n <li>The UK said travelers from France will need to quarantine for 10 days regardless of vaccination status, an announcement that “leaves holidays in disarray”.London Times</li>\n</ul>\n<p><b>2) It has been a paper party and this paper is getting harder to place. Last week we priced 11 registered deals in the U.S. ($3b notional) and this week already working on another 18 ($10b). This is especially noteworthy while in the depths of July.</b></p>\n<p><b>3) Only 1 week into 2Q earnings but banks telling us to expect beats but NOT TO expect these beats to be rewarded. AKA sell sides estimates are still too low and positioning remains crowded. Since JPM kicked of megacap tech bank earnings last Tuesday morning (essentially beats across the board) bank index has shed 355bps.</b></p>\n<p><b>4) We are in depths of corporate buyback blackout period and this will run through 7/23/21....</b></p>\n<p><img src=\"https://static.tigerbbs.com/2aaf1e5d45694a097b50a91dbde1c820\" tg-width=\"500\" tg-height=\"271\" referrerpolicy=\"no-referrer\"><b>5) Systematic flows are asymmetric...(AKA CTAs are sellers in a up and down tape)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/4bba4d70220e9707ea2844810c1a10b2\" tg-width=\"866\" tg-height=\"381\" referrerpolicy=\"no-referrer\"><b>6) Market breadth continues to deteriorate (was at ATH of 100 last month)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/39de9052680301024db46173d0dce29f\" tg-width=\"507\" tg-height=\"405\" referrerpolicy=\"no-referrer\"><b>7) AKA without recent stellar price action on FAAMG the market would be in some trouble...</b></p>\n<p><img src=\"https://static.tigerbbs.com/0ae0c7eead73ad8dc2ecc63bcbd9e27e\" tg-width=\"500\" tg-height=\"385\" referrerpolicy=\"no-referrer\"></p>\n<p><b>8) Tensions with China escalating and we see continued derisking in ADRs: The White House is accusing China of perpetrating a massive hack of Microsoft’s email systems and will form a coalition of NATO members to condemn Beijing’s cyber activities.NYT</b></p>\n<p><b>9) Retail support has been waning MTD....(GS HIGH RETAIL SENTIMENT BASKET)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/91d1bdeccdbb13bda1edf2982fd29b9c\" tg-width=\"969\" tg-height=\"737\" width=\"100%\" height=\"auto\"></p>\n<p><b>1</b><b>0) On 1 year look back Fundamental L/S positioning has come in significantly....on a 3yr look back still elevated....</b></p>\n<p><img src=\"https://static.tigerbbs.com/588f67823e6fabf1df2586491f930477\" tg-width=\"912\" tg-height=\"105\" width=\"100%\" height=\"auto\"></p>","source":"lsy1583725640930","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Says \"Don't Buy This Dip\" And Here's Why...</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Says \"Don't Buy This Dip\" And Here's Why...\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-20 21:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188133258","content_text":"At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest period for markets...\n\n... and followed up with apredictionthat shorts will have to cover, which they did during a period in which we saw 13 out of 16 trading days hit new all time highs.\nOf course, it all came crashing down in the last 3 days when the S&P slide accelerated, culminating with a scary rout on Monday when tumbling yields sparked a panic that the US economy is headed straight into a stagflationary crash.\nAnd yet, with futures rebounding and traders clearly showing a desire to catch what has been the fastest falling knife in months, we were surprised to read that the same John Flood who correctly predicted the market ramp in the first half of July, has now flipped completely and in a note published overnight writes \"don't buy this dip.\" He explains why:\n\n I am a consistent buyer of dips but this wobble feels different and I am bracing for a weaker tape this week. Negative Covid headlines are picking up in velocity. Issuance spigots are fully turned on and this paper is getting harder to place from my seat (after some choppy px action related to issuance last week).\n\n\n99% of S&P500 companies are in buyback blackout period into next week and quant flows remain asymmetric on the supply side (AKA CTA sellers will win this tug of war).Earnings last week were great but were not rewarded (banks)...this week and next are the 2 busiest weeks of the earnings period.\n\n\n Overall market breadth continues to dissipate with FAAMG complex carrying the weight of the indices on its back. July has not been a fun month for the retail community (underlying retail bid is fading). HF length has recently come in significantly on a 1 year look back but on a 3 year basis is well above 50th percentile for both nets and grosses (still more wood to chop here). Institutional community continues to cut risk in China ADR’s post DIDI development while U.S. / China tensions rise. All eyes remain 10yr yields well below 200dma of 1.26 for first time in 2021. No need to hit the panic button but I plan on being patient with buy tickets over the next several sessions.\n\nAnd here are the 10 keybearishdevelopments Flood is monitoring:\n1) Covid headlines over the weekend were the most negative that I have seen in 2021. Here are the 5 that stood out to me...\n\nU.S. infections surged more than 60% last week, topping a 16% global increase. Delta cases may be undercounted, former FDA chief Scott Gottlieb said. The Dr. warned that the US is “vastly underestimating” the level of COVID delta spread domestically.CNBC\nThe CDC warns of a “pandemic of the unvaccinated” as cases, hospitalizations, and fatalities rise in those parts of the country with low inoculation rates.BBG\nCDC says other major US cities will probably follow LA and reimpose mask mandates as COVID statistics continue to deteriorate.FT\nFirst Olympic athletes in Tokyo test positive for COVID, just days before the games are expected to commence (Coco Gauff the highest profile U.S. athlete to withdraw)\nThe UK said travelers from France will need to quarantine for 10 days regardless of vaccination status, an announcement that “leaves holidays in disarray”.London Times\n\n2) It has been a paper party and this paper is getting harder to place. Last week we priced 11 registered deals in the U.S. ($3b notional) and this week already working on another 18 ($10b). This is especially noteworthy while in the depths of July.\n3) Only 1 week into 2Q earnings but banks telling us to expect beats but NOT TO expect these beats to be rewarded. AKA sell sides estimates are still too low and positioning remains crowded. Since JPM kicked of megacap tech bank earnings last Tuesday morning (essentially beats across the board) bank index has shed 355bps.\n4) We are in depths of corporate buyback blackout period and this will run through 7/23/21....\n5) Systematic flows are asymmetric...(AKA CTAs are sellers in a up and down tape)....\n6) Market breadth continues to deteriorate (was at ATH of 100 last month)....\n7) AKA without recent stellar price action on FAAMG the market would be in some trouble...\n\n8) Tensions with China escalating and we see continued derisking in ADRs: The White House is accusing China of perpetrating a massive hack of Microsoft’s email systems and will form a coalition of NATO members to condemn Beijing’s cyber activities.NYT\n9) Retail support has been waning MTD....(GS HIGH RETAIL SENTIMENT BASKET)....\n\n10) On 1 year look back Fundamental L/S positioning has come in significantly....on a 3yr look back still elevated....","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5276207,"gmtCreate":1626820054341,"gmtModify":1663231231242,"authorId":3579082097230100,"author":{"id":3579082097230100,"authorId":3579082097230100,"name":"Gaga71","avatar":"https://static.tigerbbs.com/02afa88b95dc30f4a60767c18f9e2f39","vip":1,"crmLevel":6,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":178623492,"type":1,"supId":0,"prevId":0,"content":"TradE with caution","text":"TradE with caution","html":"TradE with caution"}],"langContent":"EN"},{"id":178623188,"gmtCreate":1626819004344,"gmtModify":1703765631176,"author":{"id":"3582963095283492","authorId":"3582963095283492","name":"replaygoh","avatar":"https://static.tigerbbs.com/d47b21291424a3d55039334a8de5cdb9","vip":1,"crmLevel":1,"crmLevelSwitch":0},"htmlText":"okok","listText":"okok","text":"okok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/178623188","repostId":1188133258,"repostType":4,"repost":{"id":"1188133258","pubTimestamp":1626787650,"share":"https://www.laohu8.com/m/news/1188133258?lang=&edition=full","pubTime":"2021-07-20 21:27","market":"us","language":"en","title":"Goldman Says \"Don't Buy This Dip\" And Here's Why...","url":"https://stock-news.laohu8.com/highlight/detail?id=1188133258","media":"zerohedge","summary":"At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-we","content":"<p>At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest period for markets...</p>\n<p><img src=\"https://static.tigerbbs.com/e7dc88222112e4655f492c56509f9d64\" tg-width=\"1280\" tg-height=\"467\" referrerpolicy=\"no-referrer\"></p>\n<p>... and followed up with apredictionthat shorts will have to cover, which they did during a period in which we saw 13 out of 16 trading days hit new all time highs.</p>\n<p>Of course, it all came crashing down in the last 3 days when the S&amp;P slide accelerated, culminating with a scary rout on Monday when tumbling yields sparked a panic that the US economy is headed straight into a stagflationary crash.</p>\n<p>And yet, with futures rebounding and traders clearly showing a desire to catch what has been the fastest falling knife in months, we were surprised to read that the same John Flood who correctly predicted the market ramp in the first half of July, has now flipped completely and in a note published overnight writes \"<b>don't buy this dip.</b>\" He explains why:</p>\n<blockquote>\n I am a consistent buyer of dips but this wobble feels different and I am bracing for a weaker tape this week. Negative Covid headlines are picking up in velocity. Issuance spigots are fully turned on and this paper is getting harder to place from my seat (after some choppy px action related to issuance last week).\n</blockquote>\n<blockquote>\n <b>99% of S&amp;P500 companies are in buyback blackout period into next week and quant flows remain asymmetric on the supply side (AKA CTA sellers will win this tug of war).</b>Earnings last week were great but were not rewarded (banks)...this week and next are the 2 busiest weeks of the earnings period.\n</blockquote>\n<blockquote>\n Overall market breadth continues to dissipate with FAAMG complex carrying the weight of the indices on its back. July has not been a fun month for the retail community (underlying retail bid is fading). HF length has recently come in significantly on a 1 year look back but on a 3 year basis is well above 50th percentile for both nets and grosses (still more wood to chop here). Institutional community continues to cut risk in China ADR’s post DIDI development while U.S. / China tensions rise. All eyes remain 10yr yields well below 200dma of 1.26 for first time in 2021. No need to hit the panic button but I plan on being patient with buy tickets over the next several sessions.\n</blockquote>\n<p>And here are the 10 key<i>bearish</i>developments Flood is monitoring:</p>\n<p><b>1) Covid headlines over the weekend were the most negative that I have seen in 2021. Here are the 5 that stood out to me...</b></p>\n<ul>\n <li>U.S. infections surged more than 60% last week, topping a 16% global increase. Delta cases may be undercounted, former FDA chief Scott Gottlieb said. The Dr. warned that the US is “vastly underestimating” the level of COVID delta spread domestically.CNBC</li>\n <li>The CDC warns of a “pandemic of the unvaccinated” as cases, hospitalizations, and fatalities rise in those parts of the country with low inoculation rates.BBG</li>\n <li>CDC says other major US cities will probably follow LA and reimpose mask mandates as COVID statistics continue to deteriorate.FT</li>\n <li>First Olympic athletes in Tokyo test positive for COVID, just days before the games are expected to commence (Coco Gauff the highest profile U.S. athlete to withdraw)</li>\n <li>The UK said travelers from France will need to quarantine for 10 days regardless of vaccination status, an announcement that “leaves holidays in disarray”.London Times</li>\n</ul>\n<p><b>2) It has been a paper party and this paper is getting harder to place. Last week we priced 11 registered deals in the U.S. ($3b notional) and this week already working on another 18 ($10b). This is especially noteworthy while in the depths of July.</b></p>\n<p><b>3) Only 1 week into 2Q earnings but banks telling us to expect beats but NOT TO expect these beats to be rewarded. AKA sell sides estimates are still too low and positioning remains crowded. Since JPM kicked of megacap tech bank earnings last Tuesday morning (essentially beats across the board) bank index has shed 355bps.</b></p>\n<p><b>4) We are in depths of corporate buyback blackout period and this will run through 7/23/21....</b></p>\n<p><img src=\"https://static.tigerbbs.com/2aaf1e5d45694a097b50a91dbde1c820\" tg-width=\"500\" tg-height=\"271\" referrerpolicy=\"no-referrer\"><b>5) Systematic flows are asymmetric...(AKA CTAs are sellers in a up and down tape)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/4bba4d70220e9707ea2844810c1a10b2\" tg-width=\"866\" tg-height=\"381\" referrerpolicy=\"no-referrer\"><b>6) Market breadth continues to deteriorate (was at ATH of 100 last month)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/39de9052680301024db46173d0dce29f\" tg-width=\"507\" tg-height=\"405\" referrerpolicy=\"no-referrer\"><b>7) AKA without recent stellar price action on FAAMG the market would be in some trouble...</b></p>\n<p><img src=\"https://static.tigerbbs.com/0ae0c7eead73ad8dc2ecc63bcbd9e27e\" tg-width=\"500\" tg-height=\"385\" referrerpolicy=\"no-referrer\"></p>\n<p><b>8) Tensions with China escalating and we see continued derisking in ADRs: The White House is accusing China of perpetrating a massive hack of Microsoft’s email systems and will form a coalition of NATO members to condemn Beijing’s cyber activities.NYT</b></p>\n<p><b>9) Retail support has been waning MTD....(GS HIGH RETAIL SENTIMENT BASKET)....</b></p>\n<p><img src=\"https://static.tigerbbs.com/91d1bdeccdbb13bda1edf2982fd29b9c\" tg-width=\"969\" tg-height=\"737\" width=\"100%\" height=\"auto\"></p>\n<p><b>1</b><b>0) On 1 year look back Fundamental L/S positioning has come in significantly....on a 3yr look back still elevated....</b></p>\n<p><img src=\"https://static.tigerbbs.com/588f67823e6fabf1df2586491f930477\" tg-width=\"912\" tg-height=\"105\" width=\"100%\" height=\"auto\"></p>","source":"lsy1583725640930","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Says \"Don't Buy This Dip\" And Here's Why...</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Says \"Don't Buy This Dip\" And Here's Why...\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-20 21:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/goldman-says-dont-buy-dip-and-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188133258","content_text":"At the start of the month,Goldman trader John Flood correctly saidthat we are entering the best 2-week seasonal period of the year, with the first 18 days of the month traditionally the strongest period for markets...\n\n... and followed up with apredictionthat shorts will have to cover, which they did during a period in which we saw 13 out of 16 trading days hit new all time highs.\nOf course, it all came crashing down in the last 3 days when the S&P slide accelerated, culminating with a scary rout on Monday when tumbling yields sparked a panic that the US economy is headed straight into a stagflationary crash.\nAnd yet, with futures rebounding and traders clearly showing a desire to catch what has been the fastest falling knife in months, we were surprised to read that the same John Flood who correctly predicted the market ramp in the first half of July, has now flipped completely and in a note published overnight writes \"don't buy this dip.\" He explains why:\n\n I am a consistent buyer of dips but this wobble feels different and I am bracing for a weaker tape this week. Negative Covid headlines are picking up in velocity. Issuance spigots are fully turned on and this paper is getting harder to place from my seat (after some choppy px action related to issuance last week).\n\n\n99% of S&P500 companies are in buyback blackout period into next week and quant flows remain asymmetric on the supply side (AKA CTA sellers will win this tug of war).Earnings last week were great but were not rewarded (banks)...this week and next are the 2 busiest weeks of the earnings period.\n\n\n Overall market breadth continues to dissipate with FAAMG complex carrying the weight of the indices on its back. July has not been a fun month for the retail community (underlying retail bid is fading). HF length has recently come in significantly on a 1 year look back but on a 3 year basis is well above 50th percentile for both nets and grosses (still more wood to chop here). Institutional community continues to cut risk in China ADR’s post DIDI development while U.S. / China tensions rise. All eyes remain 10yr yields well below 200dma of 1.26 for first time in 2021. No need to hit the panic button but I plan on being patient with buy tickets over the next several sessions.\n\nAnd here are the 10 keybearishdevelopments Flood is monitoring:\n1) Covid headlines over the weekend were the most negative that I have seen in 2021. Here are the 5 that stood out to me...\n\nU.S. infections surged more than 60% last week, topping a 16% global increase. Delta cases may be undercounted, former FDA chief Scott Gottlieb said. The Dr. warned that the US is “vastly underestimating” the level of COVID delta spread domestically.CNBC\nThe CDC warns of a “pandemic of the unvaccinated” as cases, hospitalizations, and fatalities rise in those parts of the country with low inoculation rates.BBG\nCDC says other major US cities will probably follow LA and reimpose mask mandates as COVID statistics continue to deteriorate.FT\nFirst Olympic athletes in Tokyo test positive for COVID, just days before the games are expected to commence (Coco Gauff the highest profile U.S. athlete to withdraw)\nThe UK said travelers from France will need to quarantine for 10 days regardless of vaccination status, an announcement that “leaves holidays in disarray”.London Times\n\n2) It has been a paper party and this paper is getting harder to place. Last week we priced 11 registered deals in the U.S. ($3b notional) and this week already working on another 18 ($10b). This is especially noteworthy while in the depths of July.\n3) Only 1 week into 2Q earnings but banks telling us to expect beats but NOT TO expect these beats to be rewarded. AKA sell sides estimates are still too low and positioning remains crowded. Since JPM kicked of megacap tech bank earnings last Tuesday morning (essentially beats across the board) bank index has shed 355bps.\n4) We are in depths of corporate buyback blackout period and this will run through 7/23/21....\n5) Systematic flows are asymmetric...(AKA CTAs are sellers in a up and down tape)....\n6) Market breadth continues to deteriorate (was at ATH of 100 last month)....\n7) AKA without recent stellar price action on FAAMG the market would be in some trouble...\n\n8) Tensions with China escalating and we see continued derisking in ADRs: The White House is accusing China of perpetrating a massive hack of Microsoft’s email systems and will form a coalition of NATO members to condemn Beijing’s cyber activities.NYT\n9) Retail support has been waning MTD....(GS HIGH RETAIL SENTIMENT BASKET)....\n\n10) On 1 year look back Fundamental L/S positioning has come in significantly....on a 3yr look back still elevated....","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":327,"commentSize":79,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}