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Market Update Thursday 05/21/20

It was a relatively quiet day of trading on Wall Street as US stocks zigged and zagged their way into a modestly lower close. The DJIA dropped 102 points (0.4%) and the NASDAQ fell 90 points (1.0%).

Stay tuned as the battle 0of the SkyNet StockBots continues.

Market Update Thursday 05/21/20

It was a relatively quiet day of trading on Wall Street as US stocks zigged and zagged their way into a modestly lower close. The DJIA dropped 102 points (0.4%) and the NASDAQ fell 90 points (1.0%).

Stay tuned as the battle 0of the SkyNet StockBots continues.

Market Update Wednesday 05/20/20

The SkyNet BuyBots gained the upper hand in overnight futures trading,sending US stocks sharply higher at the open of trading on Wall Street.From there, stocks zigged and zagged their way into a solidly higher close. The DJIA jumped 369 points (1.5%) and the NASDAQ surged 191 points (2.0%).

Stay tuned as the battle 0of the SkyNet StockBots continues.

Market Update Tuesday 05/19/20

It was a relatively quiet day of trading until precisely 2:45 PM EDT (“funny” how that happens) when the SkyNet SellBots jumped on news that yesterday’s reports about a promising Covid-19 vaccine were premature. Stocks tumbled into the close. The DJIA plunged 390 points (1.6%) and the NASDAQ dropped 50 points (0.5%).

Stay tuned as the battle 0of the SkyNet StockBots continues.

05/26/20 – Bill Blain: Deckchairs on the Titanic

“Until then men felt they had found the answer to a steady, orderly, civilized life. For 100 years the Western world had been at peace. For 100 years technology had steadily improved. For 100 years the benefits of peace and industry seemed to be filtering satisfactorily through society. Life was all right. The Titanic woke them up.” Read More.

05/25/20 – Tyler Durden: World’s Most Bearish Hedge Fund Manager: “If It’s In Zerohedge, Then Central Banks Have Already Devised A Plan To Stop If From Happening”

There are two notable highlights in the latest note from the CIO of Horseman Global, Russell Clark, the man we dubbed years ago as the “world’s most bearish hedge fund manager” (a name that appears to have stuck) due to his penchant to run a net short book for the past 8 years (see chart below). Read More.

Market Update Monday 05/18/20

The SkyNet BuyBots were all over it today, starting with the overnight futures, on news of positive developments on the Covid-19 vaccine front. Wall Street opened sharply higher and it kept right on going into the close.

Dow surges more than 900 points in best day since early April amid hope for  vaccine

Stocks zigged and zagged their way to a modestly higher close.

The DJIA ended higher by 60 points (0.2%) and the NASDAQ gained 71 points (0.8%).

Stay tuned as the battle 0of the SkyNet StockBots continues.

Market Update Friday 05/15/20

It was a relatively quiet day on Wall Street, as the SkyNet StockBots mostly stayed on the sidelines. Stocks zigged and zagged their way to a modestly higher close. The DJIA ended higher by 60 points (0.2%) and the NASDAQ gained 71 points (0.8%).

Stay tuned as the battle 0of the SkyNet StockBots continues.

05/22/20 – Jim Rickards: Don’t Believe the Happy Talk

Nothing like what we’re witnessing has ever happened before. Even the savviest analysts cannot yet internalize what happened. As I explained earlier, comparisons to the 2008 crisis or even the 1929 stock market crash that started the Great Depression fail to capture the magnitude of the economic damage of the virus. You may have to go back to the Black Plague of the mid-14th century for the right comparison. Read More.

Market Update Thursday 05/14/20

The SkyNet SellBots picked right up where they left off yesterday, sending US stocks sharply lower in early trading on Wall Street. At precisely 10:00 AM EDT (“funny” how that happens), the SkyNet BuyBots said “enough is enough” and started a buying stampede that reversed the opening losses and sent stocks straight up into the close. The DJIA ended higher by 377 points (1.5%) and the NASDAQ gained 80 points (0.9%).

Stay tuned as the battle 0of the SkyNet StockBots continues.

05/21/20 – Rob Price: How Government Intervention Triggers Depressions

Although painful, the solution to the 2020 economic recession is simple—uncover our problems, let prices adjust, and reallocate capital toward productive usages. The quicker we adjust, the shorter the recession and the sooner we create a sustainable economic foundation for future prosperity. This approach is the polar opposite to the current interventionist and inflationist orthodoxy. Read More.

Market Update Wednesday 05/13/20

The SkyNet SellBots picked right up where they left off yesterday, boosted by renewed statements by FedHead Jerome Powell that he does not anticipate negative interest rates. The DJIA plunged another 517 points (2.2%), bringing its two-day loss to nearly 1,000 points. The NASDAQ got smashed again, by 135 points (1.9%).

Stay tuned as the battle 0of the SkyNet StockBots continues.

US stocks opened narrowly mixed but after a few early morning zigs and zags, it was all downhill into the close. The SkyNet SellBots were boosted by renewed fears that the US economy might not “reopen for business” as quickly as previously hoped. The DJIA plunged 457 points (1.9%) and the NASDAQ got smashed by 189 points (2.0%).

Stay tuned as the battle 0of the SkyNet StockBots continues.