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This is daytrading . We don't need a bottom - a rally will do .

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Lambrae

3,625 Posts.

139

27/03/20

09:49

Post #: 43726436
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Originally posted by cletus2: ↑

Yes it's laughable to think this is the bottom. The weekly job numbers don't even effect the true amount who lost their jobs, just like here their system crashed and people couldn't even apply. Then you've got all the people who can't apply for unemployment anyway, contractors , gig workers, illegal immigrants. They would be the first out the door. The economic news will keep getting worse and it doesn't matter how much money the government throws at it there will be a major credit crunch in the next 6 months because people are going to default on their loans and unless all these jobs somehow re-appear it is going to happen, plus Spain, Italy, Greece are looking like they'll default on their sovereign debt and we'll have that crisis all over again and Germany won't come to the rescue this time.

That said who knows what happens on the market today, but I won't be getting back in the market for quite some time as this has a long way to go.

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This is daytrading . We don't need a bottom - a rally will do .
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