The spread of coronavirus and uncertainty of containment has created turmoil in the market. Here is what our Real Money experts are saying about this market sell-off:
"We have to expect selling on Friday because the weekend is unlikely to bring good news, especially because we know that the Centers for Disease Control and Prevention, which I do trust, is saying that it's not if, but when."
James "Rev Shark" DePorre
"This market is all about the news flow and it is not going to provide much upside opportunity until there is more clarity, even if the headlines are bad... This market is all about the news flow and it is not going to provide much upside opportunity until there is more clarity. Even if the news is bad at least it will be better than the current uncertainty."
"Over the last month, I had strenuously argued that speculation was running amok. Market structure posed heightened risk (as ETFs and risk parity thrust everyone on the same side of the long/bullish boat), the underlying foundation of profit and economic growth was unsound, there was growing political and policy risks, and that the possible supply chain and demand implications of the coronavirus were being ignored."
"The 200-day moving average line has an upward or positive slope but the On-Balance-Volume (OBV) line... has mirrored the action of the price line. Trading volume was not much to talk about during the pullback so the assumption is that investors largely stayed with their long positions."
"The economy is far more global now, and thus far, far more vulnerable. In 1987, a localized virus could have been easier to contain."