You are probably right about the timing of the stimulus plan not happening before the election however it would have passed with flying colors if unemployment rate was still in the mid to upper teens, if the markets were still down near March lows and coronavirus cases were still abnormally high. So they figure no need yet for any more additional stimulus, however the markets want it badly. I think any sell off will be on the backs of continuous failed stimulus talks. I do think its going to happen and it will surprise the market when it does but as of now with each day getting closer to election that chance does drop. I give it now a 60/40 chance it doesn't happen and an 80/20 in the next 2 weeks if it doesnt happen by end of 1st week in October. Aside from that let the volatility be your best friend from now until probably early next year.
Funny how cramer says we need this sell off as it was being compared to 1999.... Just 3 weeks ago everyone was buying higher and higher paying hand over fist for stocks up just incredible amounts from march lows, now we get a minor setback and everyone is in worry mode Funny how everyone says buy the panic but never hear anyone saying its time to sell the greedy high sky valuations because when stocks go one way you never ever think of how quick those gains can evaporate.
Another triple digit decline on the nasdaq. Getting ready for sub 10,000!!! Hope everyone has some extra cash to play this fun volatility
Futures red. Let's see how we do this Friday. Nasdaq has the ability to fall apart. Could possibly fall below 10,000 in the days ahead....