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re: DOW down 1500 points.... BUY BUY BUY
Posted on 6/11/20 at 12:29 pm to HailHailtoMichigan!
Posted on 6/11/20 at 12:29 pm to HailHailtoMichigan!
We were due for a pullback. Nasdaq at an all time high. All of the reopening stocks moved way too high too quick.
I don't think covid really has much to do with it.
I don't think covid really has much to do with it.
This post was edited on 6/11/20 at 12:30 pm
1
Posted on 6/11/20 at 12:44 pm to hiltacular
quote:
We were due for a pullback. Nasdaq at an all time high. All of the reopening stocks moved way too high too quick.
I don't think covid really has much to do with it.
While the news about spikes in certain states didn't helped, most seem to agree that it was Powell's speech yesterday, along with the less than stellar initial claims number this morning, that put the brakes on and kicked it into reverse. The market sold off late yesterday during and after his speech.
But yeah, the market (especially certain sectors) was way overbought. It's the severity of the move that's caught some off guard.
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