Trying to bounce back after all of the major indices in the green. The dow struggling most of all just popped into positive territory moments ago. The s p trying to stay above morgan thats right i will note that were on pace for gains for the week including the nasdaq that is currently poised for a 4. 8 gain they pointed out this morning that the Broader Market it means this critical juncture right now and that given the big swings in both directions that we have seen in the s p and the Broader Market in the past two weeks leaves us right at the same level that we were at two weeks ago. There istechnical levels to keep an eye on early june highs, whether or not we break above that or on the flip side, the 200 day moving average, but i think the bottom line is that there continues to be a lot of uncertainty and a lot of headlines driving Investor Sentiment right now in terms of the marks, the tech piece of the markets, the nasdaq continuing a fourday win streak right now. Joining us is
The pandemic and lines they are shifting Rock Solid Companies are on dangerous footing and outfits are tightened emerging industries sometimes its hard to tell the difference and thats what happened today with the dow declining 78 and the nasdaqed wt a record close of. 95 let me explain the prism if you want to understand this market, the single most important fact is more covid cases are exploded back above 40,000 yesterday. Between 44,000 and 48,000 depending on your source and it really didnt matter to the averages so why the heck didnt the stock market go into a tail spin our country has hands down the worst response to this pandemic than any nation on earth with a few notable exceptions like rhode island, every level of government dropped the ball and not just the government. We keep dropping the ball with kr citize citizens, too. We dont believe some dont believe that this matters. Hey, listen, we dont have a lot of weapons against the virus lets use what we can do the pandemic i
Take something off the table makes sense which is how you got to todays selloff with the dow dumb bli t tumbling and nasdaq tumbling the bear camp cant exist at the sametime there cannot be coexistence with the huge covid outbreak in the sun belt spiraling out of control, bear is in charge so why dont we do this . Let suspend judgment and not use terms about good or bad and take the approach of the fact spin. Awaken america trade has taken a turn for the worse some people expected that. I didnt its a disturbing spike in covid cases across alabama, north carolina, South Carolina and texas. The infection level so high the governors of new jersey, new york and connecticut have taken an unusual action and slapped a 14day quarantine on travelers from these hot spots thats amazing they have more than 35,000 new cases today which is about where these numbers peaked in april. Not good its plain bad news for everything that depends on the economy reopening which is a lot of things. The america
Famine market ive ever seen either the world is ending or everything is going to be just fine. House of pleasure no middle ground. Problem is, thats a terrible way to invest. Have to try to keep a level head, not too negative, not too positive thats how you handle days like today where the average is up and down, big before covering, not only gaining 158 points. S p climbing. 83 . The nasdaq jumping 1. 43 down so horribly, wow, let me break it down for you. This morning at 4 00 a. M. This market looks horrendous. Down a thousand points why . Nobody really knows. We heard it was because of covid spikes and outbreak in china i was watching the tape and it was all about the same, the big declines in royal caribbean, norwegian cruise, carnival, apache, united, continental, southwest, kohls, everything got crushed last week, everything that always trades before the market opens. Why dont we call them unusual suspects thats the new playbook for all the novice investors who crowded into the m
S p 1. 5 and the best quarter since 1998 and nasdaq gained 1. 87 and looked fast tas tic fc my own point of view were the stocks with a lot of ingenuity and a lot of great luck. Many were stocks that bounced back from the march meltdown thanks to the 2. 2 millitrillion stimulus package these compapanies got lucky. The government intervened and worth a lot more money but it didnt take any ingenuity for carnival to rebound from the lows they were saved by the fed no, i want to talk about companies that have shown they can survive and thrive during this pandemic so no signs of abating in the u. S if anything, its getting worse. The pandemic is gets work because millions of people refuse to take the virus seriously. They wouldnt wear the mask. They even subjected to some of the guys on capitol hill today they wouldnted a ve ed ed edal distancing guidelines so there are breakouts in the south and west first, sometimes you got to go with the obvious zoom video there were many other outfits t