The markets have enjoyed a record setting bear market rally of nearly 30% from the intraday lows reached on March 23rd, nearly a month ago. Bear market rallies, defined as short term, powerful upside moves within a bear market environment are commonplace, but this one has been so strong that in the absence of general news, one might wonder if anything unusual was occurring in the world. [Read More]
Wow, what a crazy week it has been. The country is in virtual lockdown as people learn “social distancing” which, it is hoped, will delay and reduce the spread of disease and with it, the burdens on our nation’s hospitals and health care staffs. Nothing seems too shocking anymore, including news, just in, that all restaurants in Ohio will be shut down after 9pm tonight. Take-out and delivery service, only. [Read More]
I left the office yesterday at 3pm and the market was down one percent. That didn’t feel too bad considering the rapid declines of the past week. But within sixty minutes, the wheels had fallen off the proverbial truck, with the market sliding 4.4% on the day. It was Tuesday morning, I believe, that a strategist’s comments passed my desk, mentioning that the market had declined more in four days than it had in any four-day period in decades. [Read More]