THE NEW STOCK MARKET HOPIUM – 30 MILLION JOBS LOST AND BAD EARNINGS ARE GREAT REASONS TO BUY $DIA $DJIA $SPY $SPX $GILD $TWTR $MSFT $GOOG
Weekly jobless claims were published Thursday and, again, the total was ugly: 3.8 million.
I have witnessed periods when the stock market believes bad news is good news, and good news is great news. At this time, the “hopium” in the market has turned into something quite different from most euphoric periods, which previously had led to crashes: All news is great news.
How should prudent investors navigate this stock market? Let’s explore with the help of three charts.
Charts
Please click here for an annotated chart of the Dow Jones Industrial Average ETF DIA which tracks the Dow Jones Industrial Average DJIA.