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Home > Goldman Sounds The Siren: "Nothing But Risk Off: We Have Seen Zero Attempts To Buy The Dip"

Goldman Sounds The Siren: "Nothing But Risk Off: We Have Seen Zero Attempts To Buy The Dip"

By Tyler Durden
Created 07/07/2015 - 10:16
Tyler Durden's picture [1]
Submitted by Tyler Durden [1] on 07/07/2015 10:16 -0500



 

Just out from the sales and trading office at the central-banker incubator at 200 West:

Bottom line: our early flow has been entirely one way: risk-off. Starting to get more much quiet now but have seen zero attempts to buy the dip or fade this move. Quick observations:

  1. Flow has been nothing but risk off to start - buyer of S&P downside, VIX upside, large selling in financials (mostly long sales) and better for sale in futures. All the options flow is very short-dated.
  2. If anything, the Street's gamma positioning should exacerbate the risk-off. We think dealers are short S&P strikes below 2050 and short VIX strikes above 20.
  3. SPX broke the 200-day DMA...currently 7 handles below it.

* * *

So... buy now?

 

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Source URL: http://www.zerohedge.com/news/2015-07-07/goldman-sounds-siren-nothing-risk-we-have-seen-zero-attempts-buy-dip

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