Points, we were down more than that nasdaq inched up have we already bottomed thats big question i heard all weekend. I was operating that might be temporary, would revisit the march lows, perhaps even taking out that level figured retest was virtually inevitable there was just too much weakness in the system. All through here, just knew things were going very awry. Now im feeling more confident about the future i said this morning im not going to be as negative. In part because the federal government has made unprecedented moves to prop up the economy. Very good things in that 2. 2 trillion rescue package, but fdic went nuclear, adopted a malcolm x approach to keep his economy alive by any means necessary. Fed chief has unlimited firepower. Sure its great that the government is providing forgivable loans to Small Business owners to keep employees on payroll and great we expanded Unemployment Insurance to be collected by gig employees too. Now we know fed wont let every retailer with m
Who isnt . Who needs a miracle . Thats what it comes down to in the age of the coronavirus including today where the dow rebounded 1,167 points the s p surged 4. 9 . And the nasdaq pulled up 4. 95 based on the hope that federal government stimulus could offset the sudden slowdown were getting in the economy and beat the demand shock caused by the coronavirus. So how do you pick among the rubble now that were bouncing too you think the stimulus may be too little, too late . Which is the judgment i have heard all day. Some people are skeptical. First for all intents and purposes, the market is not working. Thats all you can say well, how about that these violent swings, what are they a sign of they are a sign of sickness. Its unhealthy they tell us people are scared and theyre far too few players, too many investors, too many guys with machine guns for stocks to be able to handle the impact of that fear. It doesnt help the tail wagging the dog. The market just cant handle all this algori