Do you think Dow 18,000 was the bottom?

[W2R]

Millionaires are hesitant to buy stocks amid gloomy market outlook

https://www.marketwatch.com/story/m...-stocks-amid-gloomy-market-outlook-2020-05-28

This millionaire is yawning, doing nothing (as always), and saying "Wake me up when it's all over".

 

[Clone]

This millionaire is yawning, doing nothing (as always), and saying "Wake me up when it's all over".

??

 

[donheff]

Admins will have to remove that tampered text to save us all.

 

[Dtail]

??

So is W2R being creative here?
I think we will give her a pass.

 

[ejman]

I think you should all notice the Dow dropped 200+ points as you where talking about this Whiffle thingy. Just a hint of W2R's power.

 

[pb4uski]

Whee!

 

[VFK57]

I do not have a magic ball but feel strongly that we yet to see Dow lower than 20,000, probably lower than 18,000. Why? Because the pandemic will not be over and done with till working vaccine is not just developed but produced in sufficient numbers and administered to most of our population and it is not possible within few month. What if reopened factory has one infected employee? The entire plant could be shut down in quarantine for 2 weeks. Let's assume it is a supply factory for a bigger one to assemble the final product, then other involved factories also would not work in chain reaction for the lack of assembly parts.

 

[W2R]

??

So is W2R being creative here?
I think we will give her a pass.

OK, sounds good to me!

I think you should all notice the Dow dropped 200+ points as you where talking about this Whiffle thingy. Just a hint of W2R's power.

Oh ffft. It's STILL ~25,400. You ain't seen nuttin' yet.

I'm still gonna do nothing until the next time I need to rebalance.

 

[Redbugdave]

I do not have a magic ball but feel strongly that we yet to see Dow lower than 20,000, probably lower than 18,000. Why? Because the pandemic will not be over and done with till working vaccine is not just developed but produced in sufficient numbers and administered to most of our population and it is not possible within few months.

I agree with you VFK.

 

[targatom2019]

Do you know where support level is at ?

 

[tdv2]

Millionaires are hesitant to buy stocks amid gloomy market outlook

https://www.marketwatch.com/story/m...-stocks-amid-gloomy-market-outlook-2020-05-28

Unfortunately for me there is no useful information in an article like this. It's simple, the best returns are realized by buying at the lowest prices. Stocks don't get cheap when everything looks rosy. History has shown us that stocks get cheap when the future looks crummy, or as the author says "amid gloomy market outlook"

If I was young and still in the accumulation phase I would be praying for many periods like the one we just went through....for me, where I am now, I just rebalance into the pain or euphoria to maintain my chosen AA and risk tolerance level and go on with my life.

 

[audreyh1]

??

OMG!

 

[Toocold]

Unemployment rates have fallen to 13.3%, much lower than the expected 19.8%. Futures are naturally up this morning. The only way 18k will be achieved is if there is a severe covid crisis 2nd wave and states not being prepared for it (which seems unlikely).

https://www.reuters.com/article/us-...-rate-unexpectedly-falls-in-may-idUSKBN23C0E9

 

[jollystomper]

Unemployment rates have fallen to 13.3%, much lower than the expected 19.8%. Futures are naturally up this morning. The only way 18k will be achieved is if there is a severe covid crisis 2nd wave and states not being prepared for it (which seems unlikely).

https://www.reuters.com/article/us-...-rate-unexpectedly-falls-in-may-idUSKBN23C0E9

It will be interesting to see if the momentum stays throughout the trading day, or if other information/media commentary tempers or eliminates the enthusiasm.

 

[Toocold]

I am more curious on the midterm unemployment rate trends (next 6 months) to see whether it continues to go down, how fast it will go down, and at what level it will flatten (vs pre-covid).

 

[pb4uski]

Unemployment rates have fallen to 13.3%, much lower than the expected 19.8%. Futures are naturally up this morning. The only way 18k will be achieved is if there is a severe covid crisis 2nd wave and states not being prepared for it (which seems unlikely).

https://www.reuters.com/article/us-...-rate-unexpectedly-falls-in-may-idUSKBN23C0E9

Only Wall Street could applaud 13% unemployment.

I wonder if it will be revised.

 

[tdv2]

It seems the market is less concerned with the absolute number but more with the rate of change to the upside. The opposite was true a couple of months ago.

 

[brewer12345]

Only Wall Street could applaud 13% unemployment.

I wonder if it will be revised.

The numbers make little sense. They do not jibe at all with continuing claims, for example, and either half of the 40+MM (45?) initial claims were fraudulent or the BLS numbers are jacked.

 

[easysurfer]

Only Wall Street could applaud 13% unemployment.

I wonder if it will be revised.

It seems the market is less concerned with the absolute number but more with the rate of change to the upside. The opposite was true a couple of months ago.

Everything is relative

 

[MRG]

The numbers make little sense. They do not jibe at all with continuing claims, for example, and either half of the 40+MM (45?) initial claims were fraudulent or the BLS numbers are jacked.

[emoji2957][emoji13][emoji857]

 

[pb4uski]

The numbers make little sense. They do not jibe at all with continuing claims, for example, and either half of the 40+MM (45?) initial claims were fraudulent or the BLS numbers are jacked.

Totally agree that the 13% unmployment doesn't make sense in relation to 40+m initial claims..... I'm betting that the BLS numbrs are jacked.

I wonder why.

 

[Beststash]

The search for something to be optimistic about seems like a normal reaction after these last few months. However.... the troubling thing for me is that there seems to be an effort to mask our real economic issues with an escape from reality. We go from crisis to crisis it seems as a way of doing business these last few years. I just can't get my head around this 21st century way of management. I'm glad I'm retired and maybe it just time for me to reduce my exposure to this madness.....(not in my DNA to ignore it) it's driving me bananas as my old boss used to say "Thank God I Drink"

 

[gerntz]

Only Wall Street could applaud 13% unemployment.

I wonder if it will be revised.

It bets on the future, not today. Trend is right.

Yes, maybe it will be 12%.

 

[gerntz]

It seems the market is less concerned with the absolute number but more with the rate of change to the upside. The opposite was true a couple of months ago.

Bingo.

 

[easysurfer]

Totally agree that the 13% unmployment doesn't make sense in relation to 40+m initial claims..... I'm betting that the BLS numbrs are jacked.

I wonder why.

My thoughts too, but was too cautious to say .