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Safe with investors going allin on the kind of stocks theyll be very sorry about if the good news for the past 24 hours fails to payoff. And thats how the dow surged 912 points the s p rocketed up 3. 15 . And the nasdaq 2. 44 too many of the socalled pro covid stocks you know what i mean when you look at pictures of lines at bars in ohio or wisconsin this weekend, im sure you saw them how about the packed beaches theres none left in jersey, and florida. Its clear america is reopening for business theyre putting in new rules and regulations to keep people safe, social distancing and happened washin hand washing people are ignoring them talk about better to be sorry than safe. Living in new york i know the virus is contagious. I hope the rest of the country doesnt have to find out the hard way this is reckless, but seeing the lines did make me more confident about the economy. It did seemed somehow good even though i know it could be dangerous second, we got a look at a totally reassurin ....
And s p plummeting 1. 22 and nasdaq nosediving 1. 20 . I know they are bad but it was worse at one point, everybody in wall street is searching for Companies Strong enough to tran send the day to day havoc and there is a lot of havoc to tran send we opened on fears the Chinese Government might need to crackdown and send in the army, the poa, the coolest situation down then buyers stepped in to take advantage of the pull back after all, so far china hasnt done anything serious and nothing but a negative note by Goldman Sachs about a possible slowdown and the economy then those buyers who came in got blasted. Next thing you know, bonds are taking off again and Interest Rates are falling hard and we get hit with an all too familiar freakout everyone is worried the ....
The fed gave us what we wanted, the market implodes. Dow plunging 334 points, s p plummeting and nasdaq 1. 19 down honestly, there was Nothing Shocking about fed chief jay powells statement but people dont understand how the game is played its insurance and not the start of the easing cycle. That upset everyone hoping there would be a lot of rate cuts galore including those betting the dollar would decline the fed is supposed to be cage gee about this remember the last time powell told us the longterm plans in october, the stock market crashed. Promising a series of rate hikes was a big mistake. Hes not going to make the same mistake here by promising a series of rate cuts. Hes not stupid. Of course, President Trump piled on how powell let us down. You can say that trump let us down by firing yellen who is much closer to trump and putting powell in, and enough powell bashi ....