Just a month or so ago — the world was ending and markets CAREENING lower and oil was worth nothing. The powers that be told us to stay home and wear a mask to alleviate the burdens at your local hospital. In the meantime, the Federal Reserve began churning out new money at a record pace, to replace the money that was destroyed by actual loss of business.
The Fed’s balance sheet now exceeds $7 trillion.
Of course this is bad news for the future of America. But given the current climes, I doubt America will be a country by the time this should matter. The kitchen sink is in the market now — everything, all chips, on the table. We’re up another 100 NASDAQS today, above 10,000. As incredible as that seems, we’re likely to trade higher. As a point in fact, I’d venture we might gap up another 100 tomorrow.
My closed trades for today, so far.