That Was Quick: Hedge Funds Just Flushed Positioning Back To The 8th Percentile
One bear argument gone
Markets barely had time to scare anyone before hedge funds started hitting the sell button. Net leverage has fallen sharply, positioning indicators have flipped from extreme bullishness to neutral, and one of Wall Street's most popular reasons to be bearish is somewhat fading. However, momentum and "risky factor" positioning are still at extremes. Here are 3 charts we are watching from JP Morgan Prime brokerage desk.