Bingo . Look at the banks . Most are still down 30 -45% since their Feb highs . I read the avg stock down 30% off highs. We all know the story of its 5 stocks that has run us back to prices of last oct .In the real world most business's will not bring back all there former workers. Unemployment 3-5 months from now will still be 8% plus even if everything reopens . Mainstreet will feel some pain for the next 1-2 yrs. Its time for wall street to also feel long term pain for once .
Yes he is a professor who can explain to You the big picture stuff so that you as a trader dont ask and say this doesnt make sense most importantly just because people do NOT trade that doesn't mean they do NOT know, think how many people know how to get fit and build muscles? How many do it though ? Very few
Did you seriously expect a doom and gloom? The dude is a permabull, for crying out loud. He will never change his mind, even if we do in fact revisit the March low. He'll just come up with another excuse for why we should go back up to the ATH.
You said you'd die before we made a new ATH; you expected a medical black swan to kill the US stock market forever. So here we are at 2900 7 weeks later and you think we can't make 3400 in decades ?
Did you already forget that it was you who called me crazy when I predicted the market would correct? Well, it's time to man up and confess that you lost and I won. BTW call me out when we get to the ATH and quit jumping the damn gun. You're always jumping the gun!
They haven't propped up the markets they've propped up the economy to prevent a total loss of consumer spending power, more permanent shut down of many businesses, and unnecessary insolvencies and loss of homes. The stock market is forward looking and heavily supported by the biggest IT companies that so far are barely touched by this medical event. In fact, many of those firms will do very well business wise coming out of this medical event might even be even bigger money markets afterwards.
Did he place a real money bet on that call? Like go all in RIGHT NOW long, with a stop just below the March low? Damned piker he is.
Buddy, you never won. Quit the revisionist rhetoric I clearly told you that there was no bubble and at no point did I say a correction was unlikely this year. What I said was we weren't on par with the Nasdaq mid-1999; that we weren't in valuation "bubble". And the fact that this medical crisis is as bad as it could be really and we only went to 2230 on the SPX proves my point.