TODAY – HIgher.
This year has been one of fear.
China trade fears.
Fear of 5% IFR (Infection Fatality Rate) when the real numbers are showing 0.24%. The seasonal flue is about 0.1%.
Fear of rioters coming to a town near you.
Fear of more lock downs, running out of toilet paper and meat, etc.
Fear of unemployment, addiction, divorce and kids left behind in school because of shutdowns.
Fear of election results, for both Trump and Biden supporters who both have been sold fear. Biden fans have been sold Trump is crazy, and Trump fans have been sold Biden will destroy the constitution, economy, and Supreme Court.
The common denominator in all of these fears is = uncontrolled media making up facts to sensationalize and get ratings. They are the real enemy.
I fear CNN, FB, TWTR and Google more than Russia or Iran.
I WAS WRONG. Everyone is wrong. The professionals have been going off the GOLDEN RULE OF TRADING that uncertainty causes markets to go down. We still have uncertainty over stimulus, the elections and the virus; and yet, the market is out of control strong. Why?
Money on the side lines. People are getting immune to fear. The fear is not the elections, the virus, or stimulus. The fear is missing out on the move higher. The move is panic buying for fear of not being able to get stocks when the virus dies and the election results are known.