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Do you dunk the entire covid cohort or stick with it on a dow when the rose 183 and the nasdaq gained 1. 8 the reaction to zoom Video Communications after it reported a good quarter that wasnt quite good enough for wall street. This company practically sin none mouse with the new normal and look ban on 2020 as the year of zoom so when you see it down 15 its alarming. You got to wonder what that means for the rest of the stayathome stocks. The answer, nothing. Just because zooms insanely high growth is decelerating that doesnt mean the trend is over in fact, id argue it never had gone away because this year has shown us millions of jobs can be done better from home. No need for that central office. Why go to meetings to negotiate or sign documents when you do everything over the web and save millions, maybe ten, maybe hundreds of millions in travel, hotel, dinners, zoom, i mean thats how the 39 billion s p global ihs market d ....
Groups have switched from bear to bull market territory and they still have plenty of room to play catchup. Even when we get hit with waves of bad news. Nasdaq, did okay, quite a difference when i was out there when it was just a sea of red. Stocks opened up terribly. But then the strong bull markets that im talking about, the ones that are underneath, they surfaced, they quickly took over and we rolled back a big chunk of the decline buy buy buy something i pointed out on squawk on the street. When a rally has leaders from many different groups, and the better breath we have, the more kissable this market is, and thats what were seeing right now. Who are these leaders im talking about . Some youre very familiar with, because we talk about them all the time yes, bull market number one, the work from home cohort, which is a cluster of smaller bull markets. Zoom video, and at the orefron are the cybersecurity Stocks Companies need ....
Is it a u . Maybe its an l. Or perhaps its a z. Or maybe its a w. Or a nike swish. We keep hearing people argue about the shape of the recovery. But this whole debate misses the point. The defining question of this market is very simple. Will we have a depression . Anything that makes a depression less likely causes stocks to explode higher thats what yesterdays rally was about. Even though we gave up some of the gains today, im calling it a consolidation day no matter what dow sinking, nasdaq dipping 5. 4 when you have a bag r big rally yesterday and it us diddant give up everything because of a Late Afternoon sell off, it is a of a kelgs. The issue is not whether well have a rapid v, recovery u, bounce the w, l shape, i dont know the l, of course, is the house of pain for ages maybe we havent started talking about the swish because of the Michael Jordan series. The market s ....
Nosediving 3. 97 . At one point it looked like we would go to war and we were actually lucky, lucky it was only down that much because if things dont break right, were going to be experiencing a lot of weeks that are worse than the depths of the great recession. Why . Were fighting a twofront war in this country. We need to beat the coronavirus, a scourge thats unrelentless easy to catch and requires hospitalization, far more than we can actually provide. At the same time we need to preserve the economy, an economy in many ways is no longer open for business there are 100 million workers who could potentially lose their jobs if we dont shut down covid19 soon. Peoples life savings are going to be pulverized as companies suspend dividends and people sell like a mouse in a fear of an unrelenting panic because they need cash, need cash right now. Its like a slow grind financial hell apocalypse. The plummeting of oil isnt helping either we need to get crude back over 30 or the last of the p ....