Markets had an idea about rallying, but now have collapsed again and firmly in the red. For the week, 6.6 million jobs were lost, bringing the sum total to over 10 million in a fortnight. The idea that we can get this economy up and running again quickly will soon become a phantom, as permanent damage is afflicted to both small and large businesses.
Absent a vaccine to assuage concerns over a Coronavirus reoccurrence, people will be extremely reticent to PACK TIGHTLY into luxury cruise liners, shopping malls, concerts, and bars EVER AGAIN.
Futures were +350 and now we’re down 200.
I made two morning sales, APRN for +10.6% and AMPE for +9%.
UPDATE: In response to market firming, I sold FAZ for +4.6% and SOXS for +8.7%.If you enjoy the content at iBankCoin, please follow us on Twitter