Glanced at Bloomberg minute ago with volume off. Can’t stand the wall-to-wall ... politics, conspiracy, politics, conspiracy, politics, conspiracy ... crap any longer. Not that I don’t care. I’m voting with my wallet now and will be there at 8 AM election day.
Back to investing, what caused everything to jump around noon? Oil bounced up 4%. Gold +$15. Dow +600 points. Did one of the Fed members mention another transfusion of money printing or maybe buying more sub investment grade paper? Or maybe investing in equities? (I think they will eventually.) Or maybe Nancy and Mitch has lunch together and consumed too much alcohol?
The FVP people at the various fund houses will have a good time today if this rally holds. Asia was down sharply overnight.
Turning into a bunch of pseudo-intellectuals ganging up on anyone who disagrees with their political views...
Used to enjoy reading the investment perspectives now quite the turn off when most of the posts have to do with political views.
Me thinks that people are losing their minds...
Take care all,
@Sven - Apparently a group of pharmaceutical companies issued a joint statement today saying they will refuse to be rushed into making a vaccine available to the public by political considerations and until proper testing has been completed. Just a sign of the current craziness that they even found such a statement necessary. Of course, they’ll be branded now as another band of conspirators.
In other news, the miners (silver / gold) popped 4.4% today. Actually, they held up quite well yesterday as well.
Thanks for the comments folks.
In an era of practically 0 return on cash, and little more on intermediate investment grade paper, if you can pocket a bit extra now and than making some smart short term bets, I see nothing wrong with it. I mean ... a one-day gain of 3% on a stock, ETF or mutual fund is a whole lot more than what that cash would generate over several years.
I’m sure there are some traders here. Just don’t think it’s a substantial number.
I've reduced risk over the past few months and the recent dip doesn't surprise. Gone from 50% equity in may to 40% now. That 10% difference went mainly into my "other " category according to Schwab. This crazy world worries me to much. Maybe, hopefully, after the election we'll start to see some stability.
I agree that things may settle down a bit after the election.
Good investing to all, Derf