Posted on 03/13/2020 1:35:12 PM PDT by Kid Shelleen
Stocks ended sharply higher after a volatile session Friday as Wall Street rebounded from the deep losses suffered in the previous session, the worst since the Black Monday market crash in 1987.
The Dow Jones Industrial Average closed up 1,985 points, or 9.3%. The S&P 500 and Nasdaq also surged 9.3%. The averages posted their biggest one-day gains since October 2008.
(Excerpt) Read more at msn.com ...
Historically, Fridays are down days during economic downturns, because people don’t like to hold stocks over the weekend in case of more bad news.
I noticed that this time is different. Last Friday and today were up days.
Completely agree. Had friends over for dinner last night talking about the markets. Their advisors were telling them “BUY”. I asked, first, have the Saudis and Russians resolved the Oil Price War … No. Next, is there any reason to believe the WuFlu (I refuse to call it COVID-19, the Chinese need to get credit for this disaster all day every day) problems will get better any time in the near future? No. OK, so if the 2 biggest drivers of the downturn are still in play, then you will see some days like today where you will be tempted to jump back in, but fundamentally, you know that more bad days are coming than good. So keep your powder dry and wait. At least one of these two issues need to show an inflection point towards resolution before either will go away, and I want to see at least one on the way out before I reinvest in the Stock Market.
tweet that he is negative
https://twitter.com/jairbolsonaro/status/1238490282385080322
Good summary.
Best President ever!
“ Whether it holds or not remains to be seen. The $VIX is still sky high”
It’s not over yet.
The internals have a long way to go.
Keep your powder dry.
An illness that has 50% of its fatalities in people over 80 is not that scary when on 30 out of 340 million people are victims. After this is all over I will not have to say that I contributed to the mass hysteria. Many people will also say that but there will be lots of liars in that group. I don’t expect very many people to come back here to say how mistaken they were. Most of them will say it is better to err on the side of caution and then change the subject to some other crisis.
“Oil has really killed some people”
So the climate people were right:!
Oregon only lowered prices today and not by much. I need it to go a little lower to fill my boat’s fuel tank.
Un asked and unanswered is the actual cause of death of these who died while infected with the corona virus. Pneumonia and congestive heart failure are likely
Still more volatility ahead, so you are correct. Be prepared to start buying on the next big dip, and then hold.
I agree....a big rally is coming, but we may have a few rough weeks ahead. Remember, the alarmists who started all of this aren’t finished.
“The market should be taken day by day at this point in time I think.”
Agreed.
I generally agree there will be volatility.
But I believe there will be another crushing move down, that will shake investors to the sidelines and trigger technical trading programs.
That is necessary to energize what follows...
I don’t see this phase improving until an April timeframe.
There is certainly the potential at that point for a slingshot move upwards that would stun the world.
I took advantage of the “double whammy” and bought 1000 shares of Marathon Petroleum at 30% of it’s 6 month high.
Aside from the terrific upside, I’m just happy with it’s 8% dividend yield.
Say why they rebounded! Trump’s actions!
We’ve had a number of days where the market closed down one day, then way up the next, only to drop dramatically the next day. If the markets close up Monday and Tuesday then I’ll believe the markets turned around.
So are the FReepers pushing the hysteria and panic here.
I did see a lot of people saying this was nothing but the flu, which quite frankly is very ignorant.
Hopefully, the dividends will hold for you. There’s talk of some companies cutting dividends. Sorry, for being a downer. We need to get this Saudi thing under control. F’n Moooslims still don’t know who’s boss.
I want to see the billionaire shorting, manipulating, leftist globalist elites give up and the market go back to 30k.
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