So, apropos of today’s wild market moves, AND this chart which overlays Sept-Oct 2008 with Feb-March 2020, I want to mention one of my most hated Wall Street expressions: the “dead cat bounce”

A truly disgusting phrase in an industry full of disgusting phrases, the “dead cat bounce” is the idea that if something falls far enough and fast enough, it will bounce a bit when it hits the ground, before falling again

Anyway, here’s the S&P 500 chart from the last six months

Has the last bit of market run up been a dead cat bounce, or will it be more sustained?

It’s anyone’s guess.

Mine is there’s more pain ahead.

After the initial crash in the Fall of 2008, it took til March 2009 to hit bottom

And here’s the source of that first image in this thread: https://twitter.com/priapusiq/status/1247473278073143297?s=21 https://twitter.com/priapusiq/status/1247473278073143297