Premium"The Bear Camp Has Become Too Popular": Citadel's Rubner Turns Bullish, Gives 10 Reasons Why
The last time we quoted former Goldman flow guru and current Citadel Securities trader (and flow guru), Scott Rubner, some two weeks ago, he sounded quite bearish focusing on "unprecedented" retail inflows (usually a leading indicator for something bad), record stock dispersion, lack of liquidity, and general market fragility. Well, he timed the war-related turn very well, and even though he didn't anticipated, oh, an all out Middle Eastern war as his selling catalyst, he was still right even if for the wrong reasons (see "Amid Breadth-Stress & Structural Dispersion, Citadel Flows Guru Sees Unprecedented Retail Participation").
So fast forwarding to today, Rubner decided it is no longer time to be bearish, when as he described in his latest note to clients which laid out his latest analysis of market flow and positioning, it is instead time to turn bullish on equities due to washed-out sentiment, supportive seasonality and resilient retail flows.