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Well that didn't go well. It seems our govt has done too little too late. Markets all down 3 - 4%. The virus is still spreading like wildfire. The stimulus will do little for the people (what else is new?).
I' not expecting this to get any better anytime soon. I doubt Monday will be pretty.
With the number of Covid-19 cases exploding and people running out of cash reserves Monday will be another 5% dow. People will realize that this lockdown will be much longer than expected.
I think we retest lows if infection rates keep going parabolic. There's a lot of people "afraid they missed the bottom" that could provide buy support though. Flip a coin. Mondays action will determine the rest of the week likely.
"afraid they missed the bottom" that could provide buy support though.
That's what I think too. Lot of people will buy more aggressively now at Dow sub 20k because they think it's close to bottoming based on this week's data, which then just pushes it back up above. Haha
How come nobody predicted the stock market would be up 13% this week?
Many were awaiting a little bump to sell. The Bump was about exactly the size of the big loan just taken against our grandkids and their kids.
Hey, if you feel like buying...go all in. There is literally nothing except bad news for the next couple of weeks - maybe longer. IMHO.
I'm only about 35% in equities at this point and mostly picks which I feel are OK (apple, buffet, T, etc.)....so I have zero problem. But I won't be buying much, if anything. And if things drop a little more I'll go down to 30%.
Oh, I've been in the market for 37 years....never had this low a percentage of equities.
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