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Stocks opened widely mix, but the SkyNet SellBots jumped right in and sent stocks sharply lower into the close. The DJIA dropped 317 points (1.2%) but the NASDAQ tanked another 77 points (0.6%).

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Tuesday 11/10/20

In a replay of yesterday, it was another wild day of trading on Wall Street. Stocks opened widely mix, and stayed that way right into the close. The DJIA ended higher by 262 points (0.9%) abut the NASDAQ tanked another 160 points (1.4%). Gold and silver staged a solid rebound.

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Monday 11/09/20

Wow, what a wild day on Wall Street. News of a successful Covid vaccine set off the skyrockets in the early morning futures trading, leading to a massive rally at the open of trading on Wall Street. But it was very mixed trading the rest of the day, as the SkyNet SellBots pounced on the rally as a selling opportunity. The DJIA ended higher by 835 points (2.9%) abut the NASDAQ tanked 181 points (1.5%). Gold and silver got whacked, smacked and smashed, as the US dollar gained ground in foreign exchange trading.

Stay tuned as the battle of the SkyNet StockBots continues.

11/15/20 – Tyler Durden: In Striking Reversal, One Bank Warns That 2021 Could See The “Biggest Fiscal Contraction In History”

Echoing the skepticism voiced on Friday by BofA CIO Michael Hartnett who bucked the Wall Street trend of optimism, and said to “sell the vaccine”, another BofA strategist, Jared Woodard, writes in the bank’s latest Research Investment Committee note that a confirmed Biden presidency & GOP-led Senate would imply modest growth and corporate profits, maximum QE, and mediocre returns to risky assets, quite contrary to the euphoria gripping Wall Street which is now projecting the S&P rising to (or above) 4,500 by 2022. Read More.

Market Update Friday 11/06/20

The post-election frenzy finally settled won a bit, with a relatively quiet day of trading on Wall Street. The DJIA dropped 66 points (0.2%) and the NASDAQ edged higher by 4 points (0.1%). Gold and silver extended the recent rally.

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Thursday 11/05/20

With all eyes STILL awaiting the final results of the presidential elections, the SkyNet BuyBots again took control in the overnight futures session, sending US stocks sharply higher at the open of trading on Wall Street. From there, stocks zigged and zagged into the close. The DJIA jumped another 543 points (1.9%) and the NASDAQ surged 300 points (2.6%). Gold and silver soared, with the yellow metal jumping $55.

Post–Election Day rally shows that gridlock in Washington is good for Wall Street

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Wednesday 11/04/20

With all eyes still awaiting the final results of yesterday’s elections, the SkyNet BuyBots took control in the overnight futures session, sending US stocks sharply higher at the open of trading on Wall Street. From there, stocks zigged and zagged into the close.

S&P 500, Nasdaq book best postelection day gains in history

The DJIA jumped another 367 points (1.3%) and the NASDAQ surged 430 points (3.8%). Gold and silver pulled back.

Stay tuned as the battle of the SkyNet StockBots continues.

11/10/20 – Peter Schiff: There Is No Vaccine For What Ails the Economy

Stocks soared, and gold and silver sold off Monday after Pfizer announced success in stage III coronavirus vaccine trials. During his podcast, Peter Schiff talked about the crazy day in the markets and suggested we might want to tap the brakes when it comes to the excitement about a COVID vaccine because there is no vaccine for what actually ails the economy. Read More.

Market Update Tuesday 11/03/20

With all eyes anxiously awaiting the results of the elections tonight, the SkyNet BuyBots took control in the overnight futures session, sending US stocks sharply higher at the open of trading on Wall Street. From there, stocks zigged and zagged into the close. The DJIA jumped another 555 points (2.0%) and the NASDAQ surged 203 points (1.8%). Gold and silver staged a solid advance.

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Monday 11/02/20

Following last week’s drubbing, it was time for a rebound as the SkyNet BuyBots took control in the overnight futures session, sending US stocks sharply higher at the open of trading on Wall Street. From there, stocks zigged and zagged into the close. The DJIA jumped 423 points (1.6%) and the NASDAQ advanced 46 points (0.4%). Gold and silver staged a solid advance.

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Friday 10/30/20

It was a down day to end the down week, as once again the SkyNet SellBots took control in the overnight futures session, sending US stocks down sharply at the open of trading on Wall Street. From there, stocks zigged and zagged into the close. The DJIA dropped 157 points (0.6%) and the NASDAQ tanked 274 points (2.5%). Gold and silver rebounded a bit.

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Thursday 10/29/20

Following the bashing over the previous few days, the SkyNet BuyBots finally made an appearance and sparked a respectable rebound. The DJIA ended up 139 points (0.5%) and the NASDAQ jumped 180 points (1.6%). Gold and silver rebounded a bit too.

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Wednesday 10/28/20

The SkyNet SellBots ruled the day with a vengeance again, on fears of another wave of COVID-19 ravaging Europe and the US. Stocks plunged from the open until mid-afternoon when a short covering rally helped to stem the selling. The DJIA ended down 943 points (3.3%) and the NASDAQ tanked 426 points (3.7%). Gold and silver got whacked too.

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Tuesday 10/27/20

Following yesterday’s drubbing, US stocks staged a widely diverging performance. The SkyNet BuyBots focused on the high tech sector while the blue chips took it on the chin again. The DJIA ended down 222 points (0.8%) but the NASDAQ rebounded 72 points (0.6%). Gold and silver gained a bit.

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Monday 10/26/20

The SkyNet Sell Bots ruled the day with a vengeance, on fears of another wave of COVID-19 ravaging Europe and the US. Stocks plunged from the open until shortly before the close, when a short covering rally cut into the day’s red ink. The DJIA ended down 650 points (2.3%) and the NASDAQ tanked 189 points (1.6%). Gold and silver held their ground.

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Friday 10/23/20

US stocks opened flat. then plunged then rebounded strongly into a narrowly mixed close. The DJIA dropped 28 points (0.1%) and the NASDAQ added 42 points (0.3%). Gold and silver recovered a bit.

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Thursday 10/22/20

US stocks opened flat. then dipped, then rebounded strongly into the close on optimism that Congress and the White House may finally agree on yet another round of monetary “stimulus.” The DJIA gained 153 points (0.5%) and the NASDAQ added 21 points (0.2%). Gold and silver got whacked on the stronger US dollar trading.

Stay tuned as the battle of the SkyNet StockBots continues.

10/29/20 – David Stockman: The Mother of All Stock Market Manias

It seems that only 0.1% of the time during the last 70 years has the S&P 500 traded at a higher forward PE (price-to-earnings) multiple than it does today. That’s equal to 4 weeks out of the 3,640 weeks since 1950. In a world faced by COVID lockdowns, staggering amounts of debt, central bank money-pumping extremes, and outright fiscal insanity in Washington, why is the present moment more propitious for the valuation of corporate earnings than during 99.9% of the time since the Korean War? Of course, it is not. Not remotely so. Read More.

Market Update Wednesday 10/21/20

It was a relatively quiet day of trading as US stocks opened mixed and then zigged and zagged into a lower close. The DJIA lost 97 points (0.4%) and the NASDAQ slipped 31 points (0.3%). Gold and silver gained a bit.

Stay tuned as the battle of the SkyNet StockBots continues.