Biggest Single Day Gain for DJIA!

[Midpack]

On points but not percent - though 5%+ ain’t a bad day. Not that it means the pullback is over, but might as well report the good with the bad. Good enough to take DW out for frozen custard after dinner.

 

[mpeirce]

One heck of a dead cat bounce...

 

[foxfirev5]

Wake me up when we're back to all time highs. I've reset my Fidelity alerts on both the down and upside.

 

[WyomingLife]

Challenging times, for sure. And sympathies for those affected.

I do think this situation is ultimately solvable by science. May take 18 months, but lots of brilliant medical professionals are on this. And what will emerge, from a systemic perspective, should be more durable. I put my trust in science.

 

[Andre1969]

Yep, as a percentage basis, it doesn't even make the top 20, according to Wikipedia, at least. https://en.wikipedia.org/wiki/List_of_largest_daily_changes_in_the_Dow_Jones_Industrial_Average


Still, I'm more than happy to take it!

 

[easysurfer]

A nice bounce indeed!

Makes me wonder more now what will happen tomorrow .

 

[USGrant1962]

Yep, as a percentage basis, it doesn't even make the top 20, according to Wikipedia, at least. https://en.wikipedia.org/wiki/List_of_largest_daily_changes_in_the_Dow_Jones_Industrial_Average


Still, I'm more than happy to take it!

For completeness and perspective, none of last week's drops made the 20 worst either.

 

[Dtail]

On points but not percent - though 5%+ ain’t a bad day. Not that it means the pullback is over, but might as well report the good with the bad. Good enough to take DW out for frozen custard after dinner.

2008 had days like this too, before more losses.
Nevertheless, a good day.

 

[DrRoy]

Was half of the YTD loss for me.

 

[Dtail]

Was half of the YTD loss for me.

Haven't seen the Fidelity figures yet, but should also be about half for me too.

 

[TheRunningMan]

What media headlines will hit tonight to make the algo's go wild tomorrow? There is so little substance in what we are observing.

 

[Amethyst]

Poor dead cat, briefly resurrected by promise of largely ineffective "interventions."

 

[stepford]

Textbook definition of volatility: wild swings in both directions. More to come I'd expect.

 

[ziggy29]

Someone stuffed the dead cat with superballs. Or maybe flubber.

The only thing I feel comfortable predicting is very high volatility. Could be up, could be down, could be whipsawing mostly sideways, but I suspect a lot of days with moves of (say) 1.5% or more are in the future.

 

[WyomingLife]

The only thing I feel comfortable predicting is very high volatility. Could be up, could be down, could be whipsawing mostly sideways, but I suspect a lot of days with moves of (say) 1.5% or more are in the future.

+1

Agreed.

The additional things I'm comfortable predicting are: (1) the state of scientific knowledge will be better tomorrow than today; and (2) barring a scientific anomaly, a successful vaccine is under development.

I'd also surmise that supply chains, driven by Adam Smith's invisible hand, are becoming more durable even as we speak.

 

[brewer12345]

Classic dead cat after a historically fast correction. Rate cuts don't cure viral pneumonia or destroyed supply chains. The outbreak is rapidly getting worse in the US and elsewhere. People are starting to ransack every retail store in some areas and a grocery trade organization suggested that members consider a number of steps including limiting how much individual customers can buy of high demand items. The equity market bounce today is not reflective of the real world, so far as I can tell.

 

[WyomingLife]

Classic dead cat after a historically fast correction. Rate cuts don't cure viral pneumonia or destroyed supply chains. The outbreak is rapidly getting worse in the US and elsewhere. People are starting to ransack every retail store in some areas and a grocery trade organization suggested that members consider a number of steps including limiting how much individual customers can buy of high demand items. The equity market bounce today is not reflective of the real world, so far as I can tell.

I categorically reject such thinking.

 

[Scratchy]

Yep, as a percentage basis, it doesn't even make the top 20, according to Wikipedia, at least. https://en.wikipedia.org/wiki/List_of_largest_daily_changes_in_the_Dow_Jones_Industrial_Average

? Isn't it #7 as a percentage basis, on that link you include.

 

[travelover]

Darn and I was just getting ready to sell.

 

[WyomingLife]

Classic dead cat after a historically fast correction. Rate cuts don't cure viral pneumonia or destroyed supply chains. The outbreak is rapidly getting worse in the US and elsewhere. People are starting to ransack every retail store in some areas and a grocery trade organization suggested that members consider a number of steps including limiting how much individual customers can buy of high demand items. The equity market bounce today is not reflective of the real world, so far as I can tell.

Really? Let's break this hyperbole down.

"People are starting to ransack every retail store in some areas ...."

Evidence please?

The brewer12345 post above is the worst form of alarmism.

Scientists and governments are all over this. As to the former, the world's best and brightest scientists are on the case.

I'm standing by, waiting for live footage of retail establishments being ransacked.

 

[brewer12345]

I categorically reject such thinking.

Based on? Hopefully more than wishful thinking.

 

[braumeister]

Can we return this thread to its topic?

 

[Lawrencewendall]

Meh.

 

[Brat]

Happy to see it go up although I am mostly out of equities. I can wait until all of this settles down to look again at our allocation.

 

[WyomingLife]

Based on? Hopefully more than wishful thinking.

Based on science. And facts.