Traders Are Still Haunted by February Five Months Later
- A gain in the S&P 500 masks creeping volatility below
- ‘It’s not an investor’s market anymore. It’s a trader’s’
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It’s summer. But in the Florida offices of Raymond James & Associates and at brokerages around the U.S., February is still in the air.
Repercussions from that month’s rout won’t go away -- not in chats with clients, not in the market itself. Gone are the days when you could buy an exchange-traded fund tracking the S&P 500 and turn off the ringer. Look away for five minutes, and some customer is on the phone demanding to know what the latest swerve did to his portfolio.