5 Things We’ve Learned From This Confusing Rally

5 Things We’ve Learned From This Confusing Rally

Posted On May 8, 2020 1:57 pm

If the decade following the 2008 financial crisis was often referred to as the ‘most hated rally’ of all time, the past month has to be the most baffling bounce in history. 

We’ve just suffered through a self-inflicted global shutdown, which according to this morning’s job data has left over 20.5 million jobless and an unemployment rate of 14.7% — both records — and especially stunning when considering this all occurred in just a six-week span. 

Yet here during the largest real economic shock in modern history, and the “SPDR 500 (SPY)” is off just 11.2% this year. The “Invesco NASDAQ 100 (QQQ) in which dominated mega-cap tech names like “Amazon (AMZN)“”Microsoft MSFT)” and “Netflix (NFLX)”  is actually up for the year and down just 1.8% from all-time highs. 

So, here I attempt to answer “what’s up with the stock market?” in no particular order… Continue reading at StockNews.com

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Steve Smith

Steve Smith have been involved in all facets of the investment industry in a variety of roles ranging from speculator, educator, manager and advisor. This has taken him from the trading floors of Chicago to hedge funds on Wall Street to the world online. From 1987 to 1996, he served as a market maker at the Chicago Board of Options Exchange (CBOE) and Chicago Board of Trade (CBOT). From 1997 to 2007, he was a Senior Columnist and Managing Editor for TheStreet.com, handling their Option Alert and Short Report newsletters. The Option Alert was awarded the MIN “best business newsletter” in 2006. From 2009 to 2013, Smith was a Senior Columnist and Managing Editor for Minyanville’s OptionSmith newsletter, as well as a Risk Manager Consultant for New Vernon Capital LLC. Smith acted as an advisor to build models and option strategies to reduce portfolio exposure and enhance returns for the four main funds. Since 2015, he has worked for Adam Mesh Trading Group. There, he has managed Options360 and Earning 360, been co-leader of Option Academy, and contributed to The Option Specialist website.

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