I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!


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This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

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Friday 12 June 2020

COVID-19 Round 2 Happening in Jun 2020???

When FOMO buying sudden changed to PANIC selling!!!


U.S. stock futures were higher on Thursday night after growing worries of a resurgence in coronavirus cases sent equity prices plunging.

Dow Jones Industrial Average futures traded 105 points higher, or 0.4%. S&P 500 futures gained 0.4% while Nasdaq-100 futures advanced 0.3%.

The Dow, S&P 500 and Nasdaq all recorded their biggest one-day losses since mid-March, posting losses of at least 5.3%. Thursday’s declines put the major averages on pace for their biggest weekly losses since March 20, when they all dropped at least 12%.

Those losses came after data compiled by Johns Hopkins University showed the number of new coronavirus cases has risen in states like Arizona, South Carolina and Texas as they continue their reopening process. Still, Treasury Secretary Steven Mnuchin told CNBC’s Jim Cramer the U.S. can’t shut down the economy again.

Overall, more than 2 million coronavirus cases have been confirmed in the U.S. along with over 100,000 deaths.

Stocks had been ripping higher prior to this week, as investors cheered the prospects of the economy recovering as states and countries eases quarantine measures.

“We had gone straight up more than 30% without a real sell-off, so you’re due for one, and I don’t think it’s the worst thing in the world,” said JJ Kinahan, chief market strategist at TD Ameritrade. “As more states get back, the question becomes: Are they going to ramp up fast enough to please Wall Street? What you’re seeing is it’ll be hard to do that.”

Despite Thursday’s sell-off, the S&P 500 and Dow remained more than 37% above the intraday lows reached on March 23. Most of those gains have been driven by stocks that would benefit from the economy reopening, including airlines, cruise lines and retailers.

“Some of these stocks may have gotten ahead of their skis,” said Kinahan. “When you see some of the airlines being priced at the levels they were before this all started when they say they’re going to do 60% of their business just doesn’t make sense.”


American, Delta and United ended Thursday’s session down more than 20% each for the week while Southwest has lost 14%. Banks such as JPMorgan Chase, Citigroup, Wells Fargo and Bank of America — which have surged amid expectations of improving economic activity — are all down over 12% for the week.


Are you among those who are smiling now looking forward to deploy more rotting cash in near zero interest rate?

FOMO or PANIC?

June 2020 is March 2020 in STI???












3 comments:

  1. Ha ha.

    Bro STI no hew Uncle DOW's Great Fall!

    ReplyDelete
  2. Replies
    1. STI seen to watch closely on DOW for actions. High volatility trending down may be the clue. Every morning check DOW. Lol!

      Delete

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