Black Monday

[martinchnz1]

Some stocks trading at premiums to pre-Covid prices.
Too much like a hopeful bounce than any true digestion of the stimulus packages and covid projections, and assumptions around what will happen once restrictions are eased. Speculative bull at best. But I guess they always are.

[Entrep]

Funnymentals being ignored and no one wants to be holding USD. Stocks, gold, even crypto all up.

[stealthmaster]

Curve starting to flatten in NZ and other countries. Lots of stocks are oversold, prices should continue to rise

[ynot]

Curve starting to flatten in NZ and other countries. Lots of stocks are oversold, prices should continue to rise

I wouldn't be too quick to act, our economy is yet to take the brunt of a sizable beating.

[ratkin]

I wouldn't be too quick to act, our economy is yet to take the brunt of a sizable beating.

Yep he NZ chart is quite scary for how little it has fallen. All this upswing is just emotion based, but it will be the company numbers that determine the long term direction.

[ynot]

Absolutely. Not done by a long shot.

[JBmurc]

The bull is back...

the bull has just been pumped full of drugs to keep standing ..won't last the Depression is coming as the everything bubble pops

[macduffy]

Agreed, JB. Far too early to emulate George W's famous declaration of victory!

[blobbles]

Sucker rally? Seems ridiculous when the effects on the economy haven't even started yet... unless this is the final sign that we absolutely have a 2 stream economy, one that is simply pumped by printing (QE infinity) and one that people actually live in, with a bit of leakage from one to the other through housing. If we have wall street get back into a bull market while normal businesses and economies are falling over on main street, it certainly will show a complete disconnect between the two. Would mean a companies ability to balance it's books and be profitable don't matter anymore, the only thing that matters is how much printed money they are getting. At that point the stock market becomes a game of who has the best lobbyists, who has the cosiest relationship with the Trump administration/Federal Reserve and who can threaten the government the most by claiming poverty.

Last report I read said at least 16% of American companies are zombie companies (which should be cleaned out in a recession). If that doesn't happen, there goes another hit to long term productivity.

[Blue Horseshoe]

ASX not fooled, down 1.4%