Friday October 30, 2020

Bull market was already on its last legs

Warnings that US markets weren’t as strong as analysts predicted went unheeded as investors believed what they wanted to believe, writes Proinsias O’Mahony.

10th June, 2006

As a short term trader, I am well used to market mood swings. The turnaround in US market sentiment over the last month, however, has been dramatic.

A month ago, financial cheerleaders were screaming about five-year highs. Now it’s all doom and gloom, with the S&P 500 suffering its biggest monthly fall in more than three years. Indeed, one online magazine went from a headline of ‘Ready to smash the record’ to ‘Markets are like...

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