Daily Briefing - Sep 3, 2020 - Real Vision Dissects Today's Market Volatility.

Real Vision: Finance & Investing

Real Vision

Investing, Business News, News, Business

4.1 • 1.1K Ratings

🗓️ 3 September 2020

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Senior editor, Ash Bennington, hosts Dave Floyd, founder of Aspen Trading, to discuss the levels he’s looking at after U.S. equity markets cratered today. Dave considers whether there are structural changes occurring in the markets and provides his insight into the frothiness by drawing comparisons between now and markets in the early 2000s. He also breaks down his tactical approach and how he makes his picks. Ash is also joined by Real Vision’s Roger Hirst, sharing his thoughts on how rising implied volatility was signaling a potential drawdown in the past few weeks. Roger explains how he analyzes the VIX and the volatility curve to understand this rare market signal and expands on Ed Harrison’s points about derivatives playing into rising volatility and what bond yields converging to zero means for real yields. Roger also provides his response to James Altucher’s segment from yesterday’s Daily Briefing. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	It's Thursday, September 3rd, 2020, just after market close in New York. This is the Real Vision Daily Briefing. I'm Ash Bennington. Today we have a special show. Due to the volatility in markets, we have two guests. Dave Floyd, founder of Aspen Trading, and then Real Vision's Managing Editor,
0:26.2	Roger Hurst, talking about the day's events.
0:29.6	Dave, thanks for joining us.
0:30.8	We're sorry to pull you away from your terminal on this day, but we're happy to have you here.
0:34.0	Hey, I really appreciate it.
0:36.0	The timing, timing couldn't have been better to have me back. I mean, it's a barn burner of a day for sure in the markets.
0:43.0	Yeah, we're recording here about 10 minutes away from market close Eastern time.
0:47.0	Dave, tell us what are you looking at today amid all of this volatility?
0:51.0	Well, obviously, like most people, the front and center thing is on the S&P 500 or maybe the
0:57.4	NASDAQ depending on your indecy of choice, but on a day where you're off about 4%, I think we're down about 4.5%,
1:04.2	maybe at the worst on the S&P.
1:06.6	That gets people's attention.
1:07.9	However, I always try to temper it in this environment
1:11.9	because inevitably these dips get bought and I'm still kind of going with that
1:18.0	game plan that doesn't mean I'm throwing my neck out on the line right now but we're trading down at 3430 and like you said, we got about 10 minutes to go.
1:27.1	For me, 3430 represents, you know, it might be a sticky area in terms of some support, maybe down to 3413.
1:35.0	Worst case scenario, at least in the near term, and I'm not really trying to look out
1:39.2	much beyond tomorrow because we have the non-farn payrolls report.
1:43.0	Maybe we head down to 3386, 3366.
1:46.4	Those are kind of the levels I'm looking at.
1:48.6	I don't think I'd be a seller at these levels.
1:50.4	We've just come too far.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Real Vision, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Real Vision and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.