What Smart Investors Should Do During This "Irrationality Rally"

Despite some tentative, decidedly mixed moves to "reopen" in some parts of the country, anonymous cell phone location data shared with USA Today reveals the vast majority of Americans are still spending more than 80% of their time inside their homes. Different data shared by the states shows that COVID-19 infection and hospitalizations have kind of plateaued nationwide, but are still growing in some places. The economic picture is much worse - week after week of jaw-dropping first-time claims numbers. Around 20.5 million jobs vanished in April, putting unemployment at 14.7%. That's its highest level since 1939 and the Great Depression; the broader "U6" number is 22.8%. GDP has shrunk 4.7% on a quarterly annualized basis. Look - I don't mean to belabor the point, or scare or depress anyone; I'm looking forward just as much as anyone to the day this pandemic and recession show up in the rearview mirror. I only mention the negatives here because they stand in such stark contrast to the markets. Stocks are starting to give back just a little of their gains as I write this, so let's get to the bottom of what's going on - quickly... Full Story The post What Smart Investors Should Do During This "Irrationality Rally" appeared first on Money Morning - We Make Investing Profitable . I only mention the negatives here because they stand in such stark contrast to the markets. Stocks are starting to give back just a little of their gains as I write this, so let's get to the bottom of what's going on - quickly... Tags: trading strategies To get full access to all Money Morning content, click here About Money Morning: Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free . Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors. Disclaimer: © 2020 Money Morning and Money Map Press. All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. 16 W. Madison St. Baltimore, MD, 21201.
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