It was as if the market was letting me know to kick back and see what happens in the next few weeks. Granted, most of my moves were set up for puts to expire this fall, winter 2020, I am in no rush to do anything but HOLD my positions right now.
Causes for concern:
1) FED support will stop at some point.
2) No vaccine in the near future.
3) Virus still problematic.
4) Economic damage still largely unknown.
5) Unknown how banks will react/survive long term.
6) Longer term virus effects on cities unknown.
7) Election uncertainty.
8) Major changes in future domestic policies.
9) The market has already rebounded to its overpriced levels before the virus.
I agree with the more conservative analysis about this market. Many of my current valuations are at/over current prices and the historical 5 yr. downside stocks are giving me no reason to look for bargains right now.
Daily price jumps between 5% - 100% or more should be viewed with extreme skepticism. Most of these upward trending stocks are not based on any sound logic, mostly pure speculation.
If you have not bought already in March, April, or May, I suggest holding off until after the election at least and see how things pan out in 2021.
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