Founders: 2 p.m. Preview: The Bridge and Tunnel Crowd is Buying
Bridge and Tunnel (often abbreviated B&T or BNT) is a term – often used pejoratively – to describe people who live in communities surrounding the island of Manhattan in New York City, and commute
We’re good to go today. Recording available afterwards.
Included at Bottom: CTA Analysis from TD, GS, UBS, DB, BOA for review today (we got lucky) ISN’T IT INTERESTING HOW THEY COME OUT NOW?
In Play:
Buy Season Update:
-Massive buying marks beginning of RIA deployment of money…
-What we’ve known about for months is just now getting deployed into markets… implies much of the buying the last week was banks and their preferred clients
Beginning of Strong Hands to Weak Hands:
-Public less sophisticated money enters the new nightclub.. We used to call them the “Bridge and Tunnel crowd”
-Now we see longs from (last month) below sell into strength of new buying
-Do not ignore overbought technical signals
Doesn’t mean its over:
- the buying may be underestimated and the market can go well beyond their initial selling…
- In a real bull market, this sets the tone for the rest of the year, as new money gets put in according to that allocated rules
- last year as example.. buy season ended.. market kept going up
Avoid revenge trading:
-How to assume it is over and be pleasantly surprised..
These are correct when going by the book.. No intuition applied here
No Good
