Advisors – and a certain President – take to social media to react to the oil plunge
The S&P/TSX Composite had its worse day since 1987 and markets around the globe dropped dramatically as an oil price war added to fears stoked by the coronavirus.
Here’s what a select few said on Twitter …
@ericnuttall, well-known proponent of the energy patch, said he had sent a weekend update to clients ahead of what he admitted will be a tough few days ahead …
It’s just a flesh wound! No one wins in a price war...cooler heads will prevail eventually. #OOTT pic.twitter.com/IC7N275EqS
— Eric Nuttall (@ericnuttall) March 8, 2020
@STANDUP_Today (John De Goey), portfolio manager at Wellingron-Altus, warns things could get even worse …
Stocks are already down by ~20%. This guy is therefore suggesting that we may have ALREADY hit a bottom. Madness. We have a LONG way to go still. #marketcrash #coronavirus https://t.co/O5gMXbfMcD
— John De Goey (@STANDUP_Today) March 9, 2020
@levinepmc, of CFA Portfolio Management Corporation, offers his view on the oil plunge …
I can't remember a bigger percentage drop in oil. Parabolic drop. Parabolic moves always end ugly. A huge reverse move higher is increasingly probable as ultra-low prices will kill production, creating eventual shortages. The question will be, when? https://t.co/BCKBWtUz1p
— Norman Levine (@levinepmc) March 9, 2020
A respected view from south of the border as @Phil_J_Orlando, chief equity market strategist and head of the client portfolio management team at Federated Investor, reminds people he expects a rebound …
We expect an “all hands on deck” policy approach in the coming days, and to see stabilization and reacceleration this year. That said, risks are higher than they were a week ago and we continue to vigilantly monitor events. (5/6)
— Phil Orlando (@Phil_J_Orlando) March 9, 2020
@realDonaldTrump fired off the least surprising tweet …
So much FAKE NEWS!
— Donald J. Trump (@realDonaldTrump) March 9, 2020
Before reaching out to the ‘common man’ …
Good for the consumer, gasoline prices coming down!
— Donald J. Trump (@realDonaldTrump) March 9, 2020
And then downplaying the coronavirus …
Good for the consumer, gasoline prices coming down!
— Donald J. Trump (@realDonaldTrump) March 9, 2020
… and a quick reminder of what he said back in 2015.
IT'S FOR TODAY!#marketcrash #BlackMonday pic.twitter.com/MDzyiYrlk7
— Jackson Pollock (@Pollock_Jackson) March 9, 2020
