Hi AC!
I agree with you a hundred percent. I was having a discussion with an ex Pimco guy last Sunday before we had to close our business due to the mandatory closures of said business, stated to me that the markets were going to be fine do to the injections from the feds. I responded by saying “this is different “ why? Because this isn’t something that money is going to fix. I told him you and all the other master traders have it all wrong. He said “ not going to happened” I said “you guy’s are missing the human factor” and he said what Is that? I told him “it was because we are facing as a global community uncertainty and it all comes down to a psychological mind set of stress of the global unknown. He said “poppycock”. The market crashed 3k the next day and then another significant drop the next. Yes AC, this is far from over and people better understand and act accordingly. I believe they’re trying to catch all investors in their snares so they offset the lost of previous drops. This is a celestial falling knife event, (a financial E.L.E) if you will. When the global masses are in the same psychology boat and people still can’t go back to work, and bills start to accumulate and repos, foreclosure become norm of the day, coupled with the horrific job numbers soon to be released and along with second qrt earnings report to name a few, guess what?...
I’m going to stay on the side lines for awhile on this one. While I have plenty of powder for when the market really crashes. Oh another thing, going back to work by Easter is a pipe dream, we haven’t even hit our peek yet. This whole things SMELLS Foul!!!!
Stay safe my friend.
JAX
