Skip to comments.Dow Escapes Bear Market With a 6% Rally - The blue-chip index is now up 20% from its low, qualifying as a new bull market
Posted on 03/26/2020 2:18:45 PM PDT by abb
U.S. stocks soared higher Thursday as the government came closer to approving a $2 trillion stimulus package to combat the coronavirus pandemic, capping a three-day rally that has pushed the Dow Jones Industrial Average into a bull market.
The Dow industrials finished the day up 1351.62 points, or 6.4%, to close at 22,552.17, launching the blue-chip index back into bull market territory. The jump ends an 11-day bear market for the indexthe shortest in history for the indexwhich reached its bear-market low just three days ago.
The rapid plunge out of, and then back into, a bull market underscores just how volatile U.S. stocks have become as the coronavirus pandemic ripples through economy. The Dow industrials are still down 21% for the year, despite also climbing 21% in the last three days.
(Excerpt) Read more at wsj.com ...
OR is it a bear market rally? Who knows but I will keep dollar cost averaging until retirement...
This is where you make real money, if you time horizon is long enough.
Financial media is the original Fake News.
A market like this doesn’t end this quick. We are looking at massive volatility until year end.
The last three days is a rally that will probably be met with a lower low.
2002 and 2009 saw a 45-50% decline, and that is potential here too.
Some might call this a dead cat bounce, a symptom of fed money rushing in, shorts cashing in, longs picking off some bargains, traders making a rally move.
-28 yrs of finance career and counting...
I think they took Trump’s “Back in Business by Easter” to heart.
What happens if that doesn’t pan out?
Dow bottoms at 10000 or less before this bear market is over.
I took a cruise on Carnival only I feel more like a clown at the carnival. I shorted it yesterday @$13.82 with expectations of Nancy’s shenanigans the market to tank but it keep going up and up and since I bought on margin 3300 shares I was sick by the end of the day. Ambrose had a margin call and bought to cover (not by my choosing) at near the high of the day and by end of day I could have saved $2000. I kept 1800 shares thinking the market would tank today after 2 huge rallies and CCL had 2 back to back 20% gains that normally would have a pull back, but when I checked around noon it was at 18.89 I panicked and bought back. Now it’s at 18.— F me. Feels like 2000 and 2008 all over again.
Keep in mind that this is a VERY fragile recovery - one that could be dashed in minutes if Nancy Pelosi goes off on another of her “whims” and sabotages the recovery bill that passed through the Senate. She is not above slipping in a few minor “poison pills”, any one of which would result in a Trump veto. Then the chorus would go up, “Trump’s fault!”
That’s the way they do business, you know.
TD Ameritrade not Ambrose.
Yes, that's been my strategy for over 30 years. Invest it and forget it. Don't panic during the downturns. Leave it all in and let it ride. Remember that during the down times, you are purchasing shares at a lower price. That's GOOD for a long term investor.
Happy days are here again! [/sarc]
The Fed will step in at historical low levels and provide the support. If they don’t, people that work in finance would lose confidence in the system.
BUt hey, maybe you know more than me. What credentials do you have in finance and econ?
Throwing in a chunk every now and then after a panic sell never hurts either.!
Drudgereport is going into hysterics trying to bring the country down with fearmongering.
Date Open High Low Close* Adj Close Volume Loss/Gain % Description Feb 12, 2020 29,406.75 29,568.57 29,406.75 29,551.42 29,551.42 309,530,000 Mar 23, 2020 19,028.36 19,121.01 18,213.65 18,591.93 18,591.93 787,970,000 37.08617 Loss Off high Mar 26, 2020 21,468.38 22,595.06 21,427.10 22,552.17 22,552.17 705,182,322 37.37656 gain Claw back of lossesThe market lost 37.09% of it's value at it's highest point.
So far it has clawed back 37.38% of those loses. Not bad.
Aristocratic blue chip dividends in JNJ, Chevron, QCOM, IBM etc. They ain’t goin out of business.
Oh stop, that boring advice about buy and hold, weather the storm!
That has always worked and this time is different!
We need something that has NEVER worked, so we can make it tomorrow.
When Nancy tests positive the market will be over 50,000.
With that much experience, you should have more money than Bill Gates.
Yep, I figure if I retire in ten-years, I’ve got one good bull market left before I move most of it out.
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