Login with your ZeroHedge Premium account

Sign up here for the free newsletter

{{message}}

Subscribe with a new email
      They went "all-in"

      Massive re-grossing month. Gross leverage now at >12 month highs and net leverage exactly at the August peak level (from which equities has a 20% sell-off).

      They went "all-in"
      Source: GS
      Size buying

      Garrett continues: "if everyone is so bearish, who is buying?"

      (un)natural answer = systematic community who have purchased ~100bn of global equities in the last 10 days.

      Size buying
      Source: GS
      You are consensus

      Goldman's derivatives guru Garrett: "if you’re bearish, you’re consensus … doesn’t mean you are wrong, but you are in the majority". On AAII sentiment he writes: "...investors have *never* been this consistently bearish… for 11 straight weeks, >50% or respondents have been negative on the market"

      You are consensus
      Source: GS