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The market has not fallen nearly enough or hard enough to call this a dead cat bounce. Far more likely, imho is the beginning of a Santa Claus rally which starts more often than not around this time of year.
I can see more of a Stimulus package rally after the election in anticipation of Congress finally passing something. Like any junkie, the market desperately needs another hit.
Whatever this is, I’ll take it. Second hot day in a row. What’s interesting is that the oil and metal sectors are coming along for the ride, both having fallen off a cliff last week.
It's clear now why the market has rallied 3 days in a row. The market anticipated legislative gridlock would occur if the Biden landslide failed to occur and it looks like the market has been proven right !
@carew388 So I guess the market prefers continued low taxes to a big stimulus package. Maybe makes sense: would probably mean another slow recovery with years of zero interest rates. Or maybe short-term market moves don't mean much?
Depends what kind of meaning one is referring to. If looking for some long term trend, than no - a few days’ action doesn’t tell you much. I get whiplash watching oil prices move around. In effect: trying to discern a lasting trend where there is none.
However, in terms of real gain, a one day move has virtually the same impact on a portfolio as if that move occurred over the entire year. If your portfolio jumps 5% today or this week, than it’s also jumped an additional 5% year-to-date.
No big move. Strange week with lots of drama. Think things will be more clear next week. I am concern that COVID cases are rising fast with 120,000 cases on a daily basis in US. When will lockdown will take place again? Certain learned something from past March.
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Bought again at 26.84 per share on 12/14/2012.
And finally, at 13.62 per share on 6/7/2017.
Sigh.
It's a small slice at .0145 portfolio weight. I throw nickles around like manhole covers.
Enjoy ..... The Dead Cat Bounce
Depends what kind of meaning one is referring to. If looking for some long term trend, than no - a few days’ action doesn’t tell you much. I get whiplash watching oil prices move around. In effect: trying to discern a lasting trend where there is none.
However, in terms of real gain, a one day move has virtually the same impact on a portfolio as if that move occurred over the entire year. If your portfolio jumps 5% today or this week, than it’s also jumped an additional 5% year-to-date.