Excerpt from Yahoo Finance quoting DataTrek’s Nick Colas:
…. “So far this is exactly October 2008,” Nicholas Colas, former hedge-funder and author of Datatrek’s newsletter, wrote Thursday morning.
Colas has been drawing parallels from the end of September and October 2008 to the present day, noting a similar shape on the stock market charts: a 9% loss, a 5% gain, and two more plunges in rapid succession.
As he wrote on Tuesday, this situation means he’s recommending “the 2008 Financial Crisis playbook”….
Read the full article here on Yahoo Finance!