Posted on 03/10/2020 4:36:00 PM PDT by conservative98
U.S. equity markets ebbed and flowed on Tuesday before breaking away with the Dow Jones Industrial Average adding over 1,167 points clawing back from a deficit.
The Dow's point gain was the third-best on record. The S&P 500 and Nasdaq Composite also rallied tacking on nearly 5 percent.
Investors were encouraged after President Trump backed “very substantial relief” for the areas of the economy hardest hit by the new coronavirus outbreak.
(Excerpt) Read more at foxbusiness.com ...
Which makes it SO weird that dow futures are currently down..there is no difference between today and tomorrow yet today you an have almost a 1200 point gain and tomorrow its down
First bounce. According to a stock broker friend, buy on the second bounce. But who knows what’s real with the rate cuts?
Not my area of expertise, so do with it what you will.
Heard the commies say that the payroll tax dead is dead on arrival..figures, ANYTHING that might help the folks they dont want to do, because they want to hurt Trump
The VIX is still up in the 40’s range.
There was a 1,000 point bounce last week, too, after the interest rate cut.
Isn’t this the second bounce? Thought we had one Friday, but I’m not sure if that qualifies (folks called it a “dead cat bounce”).
We ain’t touched bottom yet...I’m looking to jump back in when it hits 23000.
If you liked a company last week, it’s the same company. I sold a couple of companies stock which I didn’t care much for. I took a loss but oh well, it’ll look good next year on my tax return. I used the money to add to my position on stocks I like.
Ah, a sensible person on FR...
I’ve heard the second bounce theory...
Absolutely the right thing to do. Most people have been pumping their 401ks into an index fund without any idea of what they are doing. Then they are 60, the market shits their gains, and they are scratching their heads.
Thank you for brining sense to the table.
Local Miami news media basically ignored the reason behind the gain.
Day traders making it a roller coaster.
Anyone here thought about the Deep State releasing a second virus after President Trump declares this one defeated? I for one believe that is exactly the plan.
What the market needs is a normal, dull Monday. The past three weekends, bad news about the coronavirus has piled up over the weekends, leading to disastrous Mondays, and then the market gyrates like ripples in water from a stone tossed into a lake for the rest of the week. Once we have a good weekend, Monday will be fine, and the big moves will stop. This weekend has a good chance to be that weekend, as China is opening up for business, which at least shows that there is light at the end of the tunnel for other countries. The oil price shock will be a known quantity by Monday as well.
This is not a stable, healthy market. Down 1000, up 1000, down again, up again. Each swing wilder than the one before. the Tacoma Narrows Bridge is a good analogy. This will end the same way.
Next support is 233-235 spy and dow 22400. Plenty of money out there for puts.
The Dem governors and mayors will hype this to hurt Trump...DeBlasio is doing it now.
It’ll be enough to knock it lower yet.
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