Ron Insana Is Bearish On The Market
CNBC's Ron Insana shared his market views with the audience on Friday, saying that all the asset classes are trading lower together, with the exception of the U.S. dollar.
Both bad and good news are interpreted as bad news and that is a sign of the structural change in the markets.
In the long term, he still believes that we are in the secular bull market, but from the tactical perspective he thinks that Thursday was a tell that the correction might be starting and he wants to put some risk off the table.
Mr. Insana bought the September 1,850 puts on the S&P e-mini futures contract. He said that he usually looks more strategically on the market but he now feels that he should react to the structural change. He added that this sell off looks more significant than we've seen so far.
S&P 500 struggled today, trading approximately one percent lower, but it managed to recover and it is currently trading at Thursday's close.
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