Bear markets have notoriously big rallies as they fall down the slope of hope. Today’s record breaking 1200 point rally in the Dow may be an example of that. Markets betting on a 50 basis point rate cut to interest rates and more quantitative easing.
Part of the market rally likely also due to diminishing chance of a Bernie Sanders presidency. But Biden will also be bad for the markets and he has a greater chance of winning
Nothing goes up in straight lines. Bull markets have notoriously big declines as they climb the wall of worry, which we may have seen on Friday. Gold stock positioned for record highs.
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Peter Schiff is an economist, financial broker/dealer, author, frequent guest on national news, and host of the Peter Schiff Show Podcast. The podcast focuses on weekly economic data analysis and unbiased coverage of financial news, both in the U.S. and global markets. As entertaining as he is informative, Peter packs decades of brilliant insight into every news item. Join the thousands of fans who have benefited from Peter's commitment to getting the real story out to the world.