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Prayers And Fundamentals.
A wing and a (vaccine) prayer.
That's what equities are living on headed into the back half of 2020
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What conceivable jobs report tomorrow would comfort the market going into a long weekend? Position yourself accordingly.
Hope floats like boiled frogs. Your three points about the recovery are very important. Let me point out a potential iv and that is that the fed is not likely to allow the markets to reach the all time highs again.
The fed is like a float switch and in my opinion when market levels get too high, the fed inflow circuit will be de-energized. In other words there is a cap on markets until and unless an organic inundation floods the entire machine.
Limited upside is not something anyone is talking about. That I am aware of. No the fed is not gawd, and yes the fundamentals are skewed beyond any near term restoration of normalcy. The old man coughing as he goes into the post office may have hope, but in my opinion those hoping against another market crash; do not have a prayer.
Who listens to the Trump administration any longer with regard to what they say about the virus, the economy, jobs, or anything else that involves the well being and safety of our citizens and country. What comes out of the Trump administration any longer moves things toward the negative. Anything toward the positive is just “investors” acting reflexively.
More cases=Quicker to Herd Immunity