Stock Market selloff...does it have legs?

[Noah Rosenblatt]

Wouldnt be so worried about it if stocks were'nt as juiced as they are for past 10 years. But from this high, we can fall fast.

What do you guys think out there? Does this have legs? Im looking at credit spreads to treasuries and seeing if they start widening out to see if this does have
more momentum to downside.

 

[David Goldsmith]

I expected a Dead Cat Bounce today - which is how the day started - but then it was another disaster. The news on pandemic (at least what's on TV) has been ugly all day long. Even Jim Cramer is saying right now the slide isn't over yet. Did you see 2 big CEOs announced stepping down? It's like Deep Impact! LOL.

The problem in a lot of markets (including New York Real Estate) is that there is so much air from huge run ups that there is a very long way to fall.

 

[Noah Rosenblatt]

I did see that...abandon ship??? crazy timing. What do they know? I also saw Kudlow today and he seemed like he knew whats coming is negative and kept saying stuff like hes looking at current data and that can change, and this can change, etc., almost setting up talk for the fall. Man I miss trading these days.