3 ms·
Dow rebounds more than 11% in best day since 1933 as Congress nears deal
- sharemywin 7y agowonder if this one of those buy the rumor sell the news or the end of the bear market. Seems like theirs a lot of bad new left. But, is it bad news that's not already baked in.
- aazaa 7y ago> The 30-stock average closed 2,112.98 points higher — or more than 11% — at 20,704.91, notching its biggest one-day percentage gain since 1933. ... Bear market rallies are the absolute worst. They provide an outlet for pent-up demand and hope, while beating the tar out of shorts, who must close their positions by buying, driving prices unsustainably higher. Rinse and repeat, all the way down the jagged slide of misery. I must be missing something, because this Wikipedia chart shows that today's rally was the highest one-day percentage gain since 1929: https://en.wikipedia.org/wiki/List_of_largest_daily_changes_in_the_Dow_Jones_Industrial_Average#Largest_percentage_changes https://en.wikipedia.org/wiki/List_of_largest_daily_changes_... And that rally was 6x or so higher (258.47) than the eventual bottom (41.22)
- naveen99 7y agoPut call parity makes the jagged slide of misery identical to the jagged ascent of the bliss. The only consistent thing is the market likes to shake out the over leveraged weather they are rich or poor.
- foobarbazetc 7y agoMeh. Once the bodies start stacking up this thing will go into free fall again. Deaths in the US currently doubling every 3 days. NYC numbers are going to dwarf Italy because Cuomo didn’t shut it down before the curve went exponential. The median clinical course is 20-25 days, and the hospitals are already at capacity. I don’t even want to think about what Florida looks like in 2-3 weeks.
- nateburke 7y agoI hear you on Florida. I just spent the past week trying to convince my parents to cut their FL vacation short. Thankfully they understood the gravity of the situation and drove back home.
- foobarbazetc 7y agohttps://twitter.com/jeffschweers/status/1242936058301558786?s=21 https://twitter.com/jeffschweers/status/1242936058301558786?...
- jjtheblunt 7y agoExcept Americans are generally innoculated against many things, and, supposedly, that's rarer (?) in Italy. Does that matter in some oblique immunological way? I guess time will tell.
- robodale 7y agoI assume this is the real dead cat bounce. Buckle up.
- biolurker1 7y agoLet's print many trillions to save Trump resorts in the middle of a pandemic. Hollywood usually is too conservative in imagination.