Stocks Jump Higher And Close In On Best Month Since 1974

Breitbart ^ | 4/29/2020 | John Carney

[Zenyatta]

The U.S. stock market is a day away from having its best month since 1974.

The optimism helped the S&P 500 jump 2.66 percent higher, and it extended a rally that’s brought the U.S. stock market to the brink of its best month in 45 years. The S&P 500 has surged more than 15 percent in April, putting it within one day of its best month since its 16.3 percent gain in October 1974.

Over the past 12 months, the S&P is down 2.6 percent.

The Dow Jones Industrial Average rose 2.2 percent. The Nasdaq Composite climbed 3.57 percent. The small-cap Russell 2000 soared 4.83 percent.

[MeneMeneTekelUpharsin]

It sure jumped up this morning. [/sarc]

[Robert DeLong]

But they’re down today.

[1Old Pro]

But they’re down today.

Unemployment figures released.

[babble-on]

Don’t fight the Fed.

[DEPcom]

Beware of Falling Knifes

I got my money in a safe area with some money (money I can afford to loose) still in the high risk. I made 7% return so far this month on the high risk funds.. If I do not see any new serious outbreaks when States start opening back up I will move more money in the market. I am up 4% year to date.

When the flu / Covid-19 season hits this fall I will pull back out of the market about two weeks before the expected outbreak.

[Starboard]

Lot’s of disappointing economic numbers still ahead of us.

We’re going through a severe and unprecedented dislocation. Time to be very cautious and hoard cash if you can.

Better buying opportunities are coming IMO.

[G Larry]

Yep, Dow is coming off of its daily lows.

I anticipate it will close flat for the day.

[Sam Gamgee]

I get a little stressed seeing the market go up because I haven’t finished loading up. Holding one financial company and one pipeline right now. The question is was the crash pricing in all the bad news we hear from now one, or has the market not quite finished digesting the bad news on jobs and GDP?

[Starboard]

My personal view is that we are far from seeing the bad news play out. I still expect to see some major bankruptcies. Although liquidity does not appear to be problematic at this time and interest rates are extremely low, the demand destruction is going to put severe stress on some companies.

I’m a bottom fisher who generally waits for the market to come to me. Buying low is absolutely essential given all the risks inherent in equities and the vagaries of the market. JMHO.

[Sam Gamgee]

You are my kind of man. :) I feel the same way which is why I can’t invest in Netflix or such with huge PE ratios. I missed out on a double with IPL.TO International Pipelines. But a pipeline with 80% of its revenue tied to Alberta oil sands could theoretically be work nothing. Never been an oil stock investor but learning some things. Somehow the oil stocks seem to move BEFORE the price of oil. Strange.

Yes, I see much of retail to fold. One problem is many may have gotten use to relying on Amazon and won’t go back to brick and mortar.