Yesterday money flew out of the red hot tech sector and into more post Covid S and P 500's and Russell 2000 small cap bets. Also, bond yields are back up a bit which may have created a bit more confidence in certain sectors. These changes were most likely affected by rising investor confidence due to the economy opening up and also institutionally triggered buys.
I look to buy more calls and discounted shares for my long term portfolio in this kind of market. Also, cash is an asset! It's ok to park money and wait this out a bit longer to see what happens in the near term.
I came across this article yesterday on Seeking Alpha by Daniel Schönberger about the stock market back in the Great Depression starting in 1929. Notice the chart after the first initial drop in 1929. It is followed by a short term recovery (similar to now) before falling into a downward spiral until the summer of 1932 and longer. Obviously, these are different times. There is exponentially more liquidity in our markets and more government safeguards to thwart long term free falls. However, one thing that cannot be created by these safeguards is CONSUMER DEMAND.
CONSUMER DEMAND is the currently big unknown and will undoubtedly cause the failure of many businesses in the near term.
I look to buy more calls and discounted shares for my long term portfolio in this kind of market. Also, cash is an asset! It's ok to park money and wait this out a bit longer to see what happens in the near term.
I came across this article yesterday on Seeking Alpha by Daniel Schönberger about the stock market back in the Great Depression starting in 1929. Notice the chart after the first initial drop in 1929. It is followed by a short term recovery (similar to now) before falling into a downward spiral until the summer of 1932 and longer. Obviously, these are different times. There is exponentially more liquidity in our markets and more government safeguards to thwart long term free falls. However, one thing that cannot be created by these safeguards is CONSUMER DEMAND.
CONSUMER DEMAND is the currently big unknown and will undoubtedly cause the failure of many businesses in the near term.
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