We have three markets. Maybe even more. After a day where the dow advanced 39 points, s p declined. 05 , nasdaq did one point, i want you to forget about the averages for a second or a week or a year or until the end of the pandemic. Thanks to the onslaught of the coronavirus, something that no ones ever seen, were seeing Something Else thats incredible not just the complete untethering of main street from wall street, but the disentangling of even small publicly traded companies and medium size ones from the big dogs that have it easy and can handle this hellatious moment. We all know main street isnt wall street. When we get another hideous jobs loss claims number like we did this morning, now were seeing more separation, that is its stunning. In my 40 years of investing, i have never seen anything like what im about to talk about so im going to walk you through what could amount to a destruction of a fair share of American Business that incredibly might not impact much of the stock
Ten states are beginning to work on plans to open parts of their economy. Maybe in may, the fed launches a commercial paper funding fa s t facili facility there is an argument that calls for stocks to retest are fading. I thought yesterday was an important day with the dave kostin change. I did a lot of work, help with larry williams, about how many times when you have a 50 retracement or more, we have a retest the answer is almost never i think theres a lot of people coming on someone came on the air this morning and said in every single case you have to have a retest. Thats completely untrue if you bounced up 50 beginning last friday thats what we did. A lot of people say this thing is based on large cap companies. Thats what we do. Were not trading luncheonettes here thats not to the detriment of luncheonettes. Were not trading hair salons. Thats not the way it works. We trade Large Capitalization Companies that do better than smaller ones in this environment. Thats life. Is it fair
It went nuts today companies that reported stellar earnings last night, some might argue they were sent soaring with reckless banning. Nasdaq rocketed up an extraordinary 2. 2 me i think its all business as usual except for some incredibly Large Capitalization Companies businesses that deliver amazing results get regarded immediately with wholesale evaluations which is what happened with the stocks of alphabet, amazon, intel, and microsoft after a genuinely spectacular quarter. We saw aggressive pin action and everything related to these companies from facebook to adobe, to apple which is how the nasdaq had one of its best days in years lets get right to the game plan on monday after the close from a a food snack company. This groups in bad shape. Its kind of like steve over the induced heart attack it doesnt seem to matter whether this Company Delivers a good quarter or not. Stock got clogged, monoly the stocks been crushed we get results from kol log on tuesday and while this tries t
Form 487 FT 11136 streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.