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Charles V Payne @cvpayne
, 3 tweets, 1 min read Read on Twitter
The biggest culprits in selloff had nothing to do with fundamentals
-Trump trade tweet (the admin working on deal that's only news)
-Yield Inversion (signals recession in two years)
-Technicals (key resistance held triggered selling)
-Hard Brexit News
-Momentum Stocks Plunge
The sharp decline in housing noted by Toll Brothers is a big fundamental concern although prices even for their rich clientele gone too high. Selling triggers forced selling individual margin calls and several professional funds including quant funds.
The market is ranged bound for now which means wild gyrations in that trading band. The big focus is Friday's jobs report. I think the Goldilocks number is 200,000 to 220,000 and yearly wage growth less than 3.0%. Stay cool, keep head on swivel and remember its buy low sell high
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