Goldman’s Rubner Says the ‘Pain Trade’ for US Stocks Is Higher
- Dip buyers expected in a selloff as traders are long gamma
- ‘The bar for being bearish is high,’ Rubner tells clients
This article is for subscribers only.
Momentum traders and a surge in corporate buybacks promise to drive a US stocks rally over the next four weeks, according to Goldman Sachs Group Inc.’s trading desk.
“The pain trade for equities is higher and the bar for being bearish at the beach into a Labor Day barbecue party is high,” Scott Rubner, managing director for global markets and tactical specialist at the bank, wrote in a Monday note.