Nasdaq is higher by 500, Dow +1,000.
The news is certainly stimulative.
Govt will provide $1t to buy commercial paper.
Mnuchin said govt will send checks out to all Americans.
Mnuchin said markets will remain open, but hours might shorten.
These measure provided the tinder for a furious short covering rally. Big moves across the board. Before this lift, we were seeing tremendous moves in consumer staples like CLX +14% and all grocery stores and food suppliers, even wholesalers. I mean, both TR and HSY higher by 13%.
Today’s leading industries.
I know you’re eager to hear about what I plan to do now, since I sold out of my accounts yesterday. Let me remind you, small pleb, I booked a 71% overnight gain in APRN this morning — meaning even at a 5% holding my ENTIRE portfolio is higher by 3.5% today. My Quant and retirement accounts can wait it out. The night is long and filled with terrors.
All day on CNBC there were clowns in suits discussing the specter of V shaped recoveries. While soothing and nice to hear, these people do not deserve it. They’re monsters! People eventually get what they deserve and all of this MALFEASANCE and RIGGING comes at an expense. You can only jimmy-rig markets for so long and I hope I’m wrong about this. Naturally I enjoy bull markets and like making money without having to worry. But let’s start to see people being allowed to walk outside first, before we go ahead and pop those champagne corks.
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BUT HOW ARE WE GONNA PAY FOR IT??
When you understand money is like electricity, generated by the FED it goes from + to ground and does its job as purely a medium of exchange, you won’t be worried about fiat/fed. Truly, money has evolved like society. We do not need a mint or precious metals to create fiat. Those who have more money than their current needs can convert it to a different asset class, BTC, stocks, bonds, RE, GOLD and take their chances.The analogy can be carried as far as your imagination, like this recent short circuit, sparks flying, money sinking to the ground.
I sympathize with your BTC loss, you must be very young, these days in major declines everything goes down, except 3x shorts.
Thanks! Do you think homeless people will be receiving checks too? Do you need a mailbox to get mailbox money?
Heckler at his finest. <3
Ctrl + P
Mexico’s gonna pay for it. Them or the Chinese tariffs.
we still go lower, you aint seen nothing yet,……..
$VMD
“we remain in position to safely treat the growing patient base with our significant ventilator fleet and our remote patient monitoring capabilities. We stand ready to work with the CDC, state and local agencies, and other hospital systems to treat the expected growing number of COVID-19 patients in the home. Viemed’s solution of treating patients in their homes will potentially free up more hospital beds for the growing patient base resulting from the COVID-19 pandemic”
Rally needs to hold. Running out of bullets.
This feels just like 2008 but on turbo.
Fly,
Not sure which side of Cary you are on (over by Preston?), but here in Raleigh grocers are re-stocking like crazy. I was in a store today that was totally normal (sans hand sanitizer). Just a nice sign that it will take more than 1 week of panic buying to put a dent in the things that will really make Americans panic.
If you wait until social distancing is no longer needed to buy you will miss the whole rally. Your long term account went to cash on the biggest down day in 30 years – the definition of an emotional panic sell.
There is always an obligatory double bottom to reload.