Steps in the Right Direction
I appreciate that you are all probably very busy, so I'll keep this update brief, hope you and your loved ones are all safe and healthy. I know the stock market is not of primary concern to many of you, but if you are concerned please read on.
Since my last update Thursday, we had a huge rally in the markets Friday followed by a huge sell off in the markets today. Expect things to remain volatile as we navigate this period of transition in the economy and our lives with moves to contain the spread of the virus.
I I mentioned on Thursday that I felt this had become a "crisis of confidence", and I listed three things investors s should watch for as a sign of things might be settling down
Between Friday and today we had major announcements from the "Coronavirus Task Force", Congress, and the Federal Reserve, as I suggested we might. And while I would not completely say we have a plan it feels a lot better than it did late last week. But box #1 (a plan) is close to checked.
Obviously, we're in a rapidly changing situation, but for the first time during this crisis some very prominent investors are beginning to talk about buying stocks. We may be closer to box #2 (a reversal).
I'm not foolish enough to try to call a market bottom, just giving you an idea of the things, we'll need to see before we should expect the markets to calm down. We're getting there, we'll see how this week plays out.
Focus on staying safe and healthy, if you have concerns, we'll be here, just call or email.