Charlie McElligott might be getting his way. RBC’s Managing Director and Head of US Cross-Asset Strategy has been watching for a mean reversion, and Thursday, with the S&P 500 down nearly 18 points near lunchtime trading, he is getting it. What could be one of the triggers for today’s market losses? It could be what McElligott calls Wednesday’s “goat rodeo,” also known as President-elect Donald Trump’s press conference. Charlie McElligott Charlie McElligott expected “Presidential tone” but was disappointed There are of course many factors that can be driving Thursday’s sell-off. But McElligott’s most colorful point of potential causation is what…
RBC's McElligott Says Beware Of The "Goat Rodeo"
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.