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...am ashamed to admit I have to look up everything y'all share. But hey maybe I'll learn something by the time the economy shapes back up? Not holding my breath. Looks bad, downright SCARY.
New York State reported 594 new coronavirus deaths on Sunday, fewer than 630 on Saturday, marking the first daily decline in coronavirus-related deaths, according to Governor Andrew Cuomo.
“Incoming data suggests NY state might peak sooner than Cuomo’s optimistic case,” Tom Lee, head of research at Fundstrat, said in a note to clients.
As of now, weekend futures aren't looking too bad. Dow is down 125:
https://www.ig.com/en/indices/markets-indices/weekend-wall-street
Although I'm waiting for the lows to be retested, I'm contemplating if I want to position myself for the "Cuomo FOMO" rally that I wrote about on 1 Apr. There is already talk of the case count slowing in NY (see link below). Might even be a mini rally off of that news should it become official anytime soon.
https://twitter.com/ScottGottliebMD/status/1246160171249917952
But, the hospitalization/death rate will lag that and purportedly peak in 2 weeks. Furthermore, as the case count slows in NY, it will rise substantially in other states such as LA, FL, CA, and TX, to name a few. Therefore, it will be a short-lived rally.
So, when might Mr. Market react to (and likely rally to) the news that NY has peaked? As of now, (and subject to change), it could be the week of 20-24 Apr. Hopefully we'll have a retest of the lows by then. If so, a lot of us would have already positioned ourselves to catch the "Cuomo FOMO" rally.
God Bless :smile:
A W-shaped recession is painful because many investors, who jump back into the markets after they believe the economy has found a bottom, end up getting burned twice—once on the way down, and again after the false recovery.
I think you are right. Just don't understand what is driving this market up when all indications show that we are not out of the woods yet and the economy is grinding to a halt.
I think you are right. Just don't understand what is driving this market up when all indications show that we are not out of the woods yet and the economy is grinding to a halt.
Bullshit. That is what is driving it up. Bullshit from everywhere except the epidemiologists.
I think you are right. Just don't understand what is driving this market up when all indications show that we are not out of the woods yet and the economy is grinding to a halt.
Do you hear that???
That's the sound of Mr. Market trying to suck in the suckers. Don't be one of them. :Flush:
Do you hear that???
That's the sound of Mr. Market trying to suck in the suckers. Don't be one of them. :Flush:
Contrarian indicator that I am, would say that you are right. I am fighting everything to keep from jumping in.