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Offline mystery-ak

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Stocks sink after historic three-day rally
« on: March 27, 2020, 01:50:30 pm »
Stocks sink after historic three-day rally
By Sylvan Lane - 03/27/20 09:33 AM EDT

Stocks sunk sharply Friday after a historic three-day rally helped Wall Street recover from a panicked month of steep losses due to the coronavirus pandemic.

The Dow Jones Industrial Average lost 836 points Friday morning, falling 3.7 percent after spiking 6.4 percent on Thursday. The S&P 500 opened with a loss of 3.3 percent following a 6.2-percent Thursday rise, and the Nasdaq composite fell 2.9 percent after rising 5.6 percent the day before.

Friday’s losses come after a three-day surge, the best in nearly 90 years, that helped stocks recover 20 percent of their losses since the market crashed over fears that the coronavirus pandemic would derail the global economy.

Developing

https://thehill.com/policy/finance/489816-stocks-sink-after-historic-three-day-rally
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Offline catfish1957

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Re: Stocks sink after historic three-day rally
« Reply #1 on: March 27, 2020, 01:55:01 pm »
Gubmit stimulus (porkulus) dead cat bounce.

There will be plenty of bad economic news in the next few months that will shake the market.

IMO...   True bottom has not been felt yet.
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Offline andy58-in-nh

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Re: Stocks sink after historic three-day rally
« Reply #2 on: March 27, 2020, 02:02:37 pm »
Quote from: catfish1957 on March 27, 2020, 01:55:01 pm
Gubmit stimulus (porkulus) dead cat bounce.

There will be plenty of bad economic news in the next few months that will shake the market.

IMO...   True bottom has not been felt yet.

"Buy the rumor... sell the news".

And yes, both the disease and the economy are going to get a whole lot worse before they get better. 
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Offline catfish1957

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Re: Stocks sink after historic three-day rally
« Reply #3 on: March 27, 2020, 02:42:05 pm »
Quote from: andy58-in-nh on March 27, 2020, 02:02:37 pm
"Buy the rumor... sell the news".

And yes, both the disease and the economy are going to get a whole lot worse before they get better.

Been at this for over 40 years, and have never seen such an overwhelming lack of options for investment opportunity. With this bat shit crazy porkulous maddening infusion of money in the economy, IMO not even cash is as stable position. 

Never have been a gold bug,  but that could be changing.
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Offline libertybele

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Re: Stocks sink after historic three-day rally
« Reply #4 on: March 27, 2020, 03:37:18 pm »
Quote from: catfish1957 on March 27, 2020, 02:42:05 pm
Been at this for over 40 years, and have never seen such an overwhelming lack of options for investment opportunity. With this bat shit crazy porkulous maddening infusion of money in the economy, IMO not even cash is as stable position. 

Never have been a gold bug,  but that could be changing.

Gold is supposed to be a correlating asset; gold prices usually rise when stocks plummet.  This hasn't been the case.  I read that people are selling gold to cover losses in the market. 

IMHO, holding physical gold and silver isn't a bad idea, but I wouldn't have my gold held elsewhere or invest in a precious metals fund.  Granted you aren't earning any dividends or interest and the value of course fluctuates, but it will have value if the economy fails. 
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Offline catfish1957

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Re: Stocks sink after historic three-day rally
« Reply #5 on: March 27, 2020, 04:03:42 pm »
Quote from: libertybele on March 27, 2020, 03:37:18 pm
Gold is supposed to be a correlating asset; gold prices usually rise when stocks plummet.  This hasn't been the case.  I read that people are selling gold to cover losses in the market. 

IMHO, holding physical gold and silver isn't a bad idea, but I wouldn't have my gold held elsewhere or invest in a precious metals fund.  Granted you aren't earning any dividends or interest and the value of course fluctuates, but it will have value if the economy fails.

Fully agree.  Another side note of thought too, is that there has been precedent of government gold confiscation in the past (FDR) (non jewelry and numismatic).  If you do secure physical gold, make sure there it  has as little of a paper trail as possible.
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Offline catfish1957

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Re: Stocks sink after historic three-day rally
« Reply #6 on: March 30, 2020, 10:49:35 pm »
At spouses request, and for blood pressure reasons, i have kind of stepped away from market watching and reporting for awhile.

One thing that I am feeling a little positive about though....   VIX is down in the 50's, and though pretty damned high, is calm considering the crash mentality of the past  few weeks.

Still IMO, I think we are still in for some rough patches, and this market bottom has not been reached yet.   When reports on unemployment, and corporate earnings start rolling in, watch for periodic downward jolts.  In any case, I think we are at the time to be researching heavily and start looking for bargains, and entry prices.

The best news to counter, is some groundbreaking or unexpected developments on cures and treatments.  Or that infection rates start waning.

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