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Last week, i warned you. Didnt think it wouldlast. More bad news about the pandemic and we would get slammed again thats what happened today dow plummeting 900 points, s p plunging 1. 4 . Nasdaq also nose diving, 1. 4 . Last night the president gave us pretty down beat, realistic forecast for covid19 fatalities if youve been following the experts and a potential death toll in the hundreds of thousands, might not have surprised you. But for a lot of investors it was a rude awakening i cant blame anyone for selling after that miserable First Quarter with very little good news on any front in the battle against covid. Lets be real. This market is an incredibly leaky ship if youve been laid off, having health problems, your family is hurting, supporting a loved one out of work, youre most likely going to have to sell stocks to get through this period. People need cash you cant fight that kind of selling. Thats what were seeing so why n ....
Against midway, against the japanese in world war ii the s p jumping 6. 24 . The nasdaq gaining 5. 60 in spite of the hideous jobless claims number in history this is the best day since 1931. So far covid19 has run the table against us we were not prepared and this virus has had us on our heels the whole way. Attacking the very basis of our civilization, life, liberty and especially the pursuit of happiness which in this case means the right to watch march madness, grab a beer, see Cirque Du Soleil in vegas at least until today were up against an insanely bullish last few minutes of trading. Astonishing return for large caps bully. Weve seen big run in all things tech it wasnt coordinated. Like our initial attempts to homeland the line in world war ii we were overcome by a prettier prepared enemy, virus its killing people directly and killing the economy. Like the greedy win at midway, google, watch the movie, even the terrible ....
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Sentiment in about an hour our road map begins with amazons rough quarter, reporting its first yearonyear profit decline in more than two years. Shares down 6 ahead of the bell is now the time for investors to get in plus, turnaround for the chip makers intel delivers a big earnings beat demand far outpacing production. And the case for wealth taxes. What lloyd flablankfein says he be willing to pay higher taxes for. Lets start with amazon, though. Earnings miss, disappointing Holiday Quarter guidance weighing on the stock as the company ramps up spending on oneday shipping amazons earnings release, jeff bezos said, quote, customers love the transition of prime from two days to one day theyve already ordered billions of items with free oneday delivery this year its a big investment, and its the right longterm decision for customers. Weve been down this road before and their track record, jim, historically is pretty good on this y ....
Most vicious rotations i have ever seen. It brought some of the rocket ships screaming back to earth. With the dow advancing 85 points, the s p declined. 08 . The nasdaq plunged 1. 8 . Thats just a recovery from even lower levels. Were starting to see that buy f b its a breather, people, it had to happen eventually, you just cant have stocks go up day after day after day on nothing new. Which is exactly what was happening on the supertech stocks. Yesterday afternoon we started to see the money rotating into the down and outer stocks. And then the buying, the template for high growth, but it was an nvidia versus nordstrom battle. Nordstrom had been ice cold until the companys management decided to talk about going profit. To me, that was a wakeup call to cause us to responder whether or not we had gotten too bullish on the market. It got crushed at the opening, it ended up at plus 2. 83. This was just day one of that rally. What surprised me the most today, though, was that the rally al ....