Stocks Rally on Signs of Deal for New Stimulus Bill

[Ethereal]

(Wall Street Journal) Dow, S&P 500 Rise More Than 7% As Volatility in Stocks Continues

Some Wall Street analysts have stepped up discussions on whether the markets have hit bottom

U.S. stocks rallied Tuesday on signs that lawmakers and the Trump administration were nearing a deal on a giant stimulus package aimed at limiting the economic fallout of the coronavirus pandemic.

The Dow Jones Industrial Average gained 1,630 points, or 8.3%, in afternoon trading. The S&P 500 climbed 7.7%, while the Nasdaq Composite rose 6.7%.

My MGM stock is up 38% at the moment. My Uber stock is up almost 15%. AMD and IBM are up about 10%.

Made a few more purchases today: Verizon and a couple of cannabis stocks.

36% of my portfolio is still in cash, so I'll continue buying here and there over the next few weeks. I am a bit concerned, however, since GDP numbers for Q1 of 2020 won't be out until mid to late April. The markets will react very negatively, I imagine.

Still, I'm thinking of the long term, so once I unload my cash, I'll try to stay the course regardless.

[Peter1469]

I predicted that yesterday.

I also think the markets were happy with Trump saying the lockdown was not going to last months.

My MGM stock is up 38% at the moment. My Uber stock is up almost 15%. AMD and IBM are up about 10%.

Made a few more purchases today: Verizon and a couple of cannabis stocks.

36% of my portfolio is still in cash, so I'll continue buying here and there over the next few weeks. I am a bit concerned, however, since GDP numbers for Q1 of 2020 won't be out until mid to late April. The markets will react very negatively, I imagine.

Still, I'm thinking of the long term, so once I unload my cash, I'll try to stay the course regardless.

[Peter1469]

Goldman Sacks predicted a Q2 GDP of -30%. A Q3 GDP of +29%. And a Q4 GDP of 3.2%.

If that holds true, expect a massacre of the dirty Dems in November. Also you may want to tie your final buys to the end of Q2.

[Ethereal]

I predicted that yesterday.

I also think the markets were happy with Trump saying the lockdown was not going to last months.

Some really good buying opportunities out there despite the craziness. Love IBM right now. Trading near 52 week low with a 6.8% dividend yield.

[waltky]

Granny says...

... "Don't ferget...

... Chinese rickshaw stocks!"