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RiskReversal Pod

Trading Spaces 1/24/22: Stock Sell-Off Steepens

RiskReversal Pod

RiskReversal Media

News, Investing, Business News, Business

4.7836 Ratings

🗓️ 24 January 2022

⏱️ 34 minutes

🧾️ Download transcript

Summary

On this episode on Trading Spaces, Dan Nathan and Guy Adami discuss the stocks sinking into a correction, tech earnings on deck, interest rates, and the Fed. Be sure to follow Trading Spaces on Twitter so you can join us live every Monday and Wednesday at 1 pm.

Transcript

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0:00.0

We got a half an hour. We're going to take some questions, but this is probably one of the worst

0:07.7

days in the stock market that either, you know, either of us can remember since maybe the

0:12.8

throws of the pandemic. Even when we had a couple 10% peak to drop declines in late 2020,

0:19.0

and I guess in the NASDAQ, at least to start off 2021,

0:22.7

it didn't feel this bad in such a short period of time, did it, Guy? No, it didn't. Not at all.

0:28.6

And you said it's one of the worst days. And I understand what you mean by that. And I'm not trying

0:33.4

to be glib here. But I would submit this could wind up being one of the best series of

0:39.0

days for the market, just in terms of flushing out some of the excess because it needed to happen.

0:45.6

And if you look at where we are right now in the S&P 500, we traded down to 422, I think. But there are

0:53.0

the levels that we're at right now,

0:54.6

we obviously have bounced and there's a lot of day left.

0:57.0

But, you know, we're basically traded down to the levels we saw,

1:01.0

I want to say, on October 4th.

1:03.0

Now, again, a lot of day left, but here we are at those levels that we bounced from a few months ago.

1:09.0

So that's a good thing, number one. But just flushing the system out, just getting some of this excess out, I think long-term

1:16.2

is extraordinarily healthy, although it doesn't feel particularly good right now.

1:20.7

Yeah.

1:21.0

Well, you know, it's interesting.

1:21.9

I mean, and I know you're not being glib about that.

1:25.3

Not.

1:25.9

No, I mean that, sincerely.

1:28.4

But what's really interesting guy about when you take out excess, right,

...

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