2 of the best times to buy were in 2008. There were actually multiple days of 10% jumps in a single day. Some people will jump back in for fear of missing out, but the underlying fundamentals don’t lie.
Banks miss Q1 earnings because they are setting aside Billions for loan defaults. Market way up.
- Thread starter fried-chicken
- Start date
Wells Fargo showed $0.01 EPS and Chase missed projected $2.00+ reporting $0.78 EPS
The numbers are lowered by the banks setting aside Billions of dollars to protect against incoming loan defaults.
In other news, the market is way up today on coronavirus optimism.
The numbers are lowered by the banks setting aside Billions of dollars to protect against incoming loan defaults.
In other news, the market is way up today on coronavirus optimism.
The results are abysmal and banks are preparing for record defaults with record unemployment but emotions are strong. I wonder which one will win out in the long term. I'm thinking 90 day puts would be the move right now.
The fed will bailout those loans and they'll be transferred to the treasury balance sheet.
The Stock market doesn't care about the current status of human suffering, only corporate profits.
Everybody knows the market is headed down. But shorts are having to cover causing a loop of FOMO and short squeeze buying driving the market up despite the underlying market conditions. We are trading at 2019 levels despite outlooks being dismal. Same thing happened in 2008. There will almost assuredly be a correction soon.
