Sentiment Is Getting Ultra Bearish and The Market Says Microsoft Made A Mistake
Bearish sentiment on the StockTwits S&P 500 $SPY stream is now at 76%. This is one of its highest levels ever. It’s also quite a change over the last one month and demonstrates how fickle the market’s attitude can be:
Microsoft ($MSFT) acquired Nokia’s ($NOK) devices & services business for $7 billion. Microsoft fell 4.5% to $31 on the news. This translates into a $15 billion loss in market cap. We saw several great posts on this:
- Microsoft spent more on Skype.
- Some analysts think ValueAct had no idea about the Nokia acquisition
- Several big names were heavily short Nokia
Labor Day look back: There are 101 million Americans either out of work or not in the labor force and labor is losing.
The keys to September: Here is the Fed’s POMO schedule for all of September. September has historically been the most volatile month on record. Here’s an economic calendar showing all of the key events happening this week.
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