The counter argument is this crisis can be over very quickly if: 1. Bending the curve succeeds and it becomes manageable. 2. A treatment is found and the panic goes away so everything can return to normal. Don't forget only 1%-2% is fatal and if treatment is available, healthcare can handle the surge.
Maybe I am misunderstanding here, so if I am please let me know. But isn't Larry saying it's about time to buy, and you're saying it's not time to buy yet. At the same time you agree with him and he's one of your favorite traders?
If you look at what is happening in the world, it seems to me that now it is difficult to talk about what is happening in a positive mood. The whole world is frozen in fear and some endless waiting, all important decisions that are made in the world are connected with the virus, people are scared and it all can not somehow reflect well on the economic situation of any country. Europe, America and Asia are now on an equal footing, all forces and resources are aimed at stabilizing the state as soon as possible! I understand that we are not in a position to choose or to influence the situation in any way, in fact no one will take risks. I don't know, maybe I'm wrong, but I think that now is the best time to wait and see, I don't understand what kind of forecasts can be made right now???
In fact, I'm always frustrated by these long and detailed explanations about what will happen and how it can affect, or can't, well, actually everything is inaccurate, etc. In fact, in this format each of us can talk to our friends at home or in a bar, and it will make about the same sense. I don't understand how I can put it into practice. In my opinion, a normal economic calendar is more important and useful because it allows me to know the time and assets that deserve attention at this very moment. It seems to me that we should value our time more and not waste it on something that has no definite purpose. I don't think we should add anything else, I don't really want it to sound like I'm just dissatisfied, but I'm just tired of looking at it all, it really doesn't help to make any money.
Yes, Larry and I are saying the bull market is intact. I'm saying it's not time to buy yet. I plan to buy, but not today, and probably not for another week or more. I have written a volatility indicator, and posted on my Youtube channel about it. It says the bottom is not in yet. My guess is that we'll hit bottom in 3-4 weeks. Meanwhile, keep your powder dry. Be ready to buy.