Stock market

[Foxsea]

You guys aren’t investing, you’re gambling.
https://www.nytimes.com/2020/03/27/business/stock-market-pandemic-coronavirus.html?action=click&module=Top Stories&pgtype=Homepage

Investing is an approach that works on the buy and hold principle. Traders are looking for short term trades that capitalize on stock movements over days to weeks. Investors invest their money for some years, decades or for even longer periods. I'm an investor that is interested in deploying cash only when traders are fatigued, volatility is low and solid basing patterns are observed. Many good companies are "on sale" now but I'm keeping my powder dry for the moment.

 

[Foxsea]

J.P. Morgan

• lowered its first-half US GDP forecast on Wednesday, a week after projecting a deep recession.
• Its forecast for first-quarter growth slipped to -10% from -4%, the team led by the chief economist Michael Feroli wrote. The estimate for second-quarter expansion plunged to -25% from -14%.
• The bank kept its second-half estimate at 6%, noting that severe financial headwinds and tight capital conditions offset hopes for a stronger rebound.
• While the Senate's "Herculean stimulus effort" will provide short-term aid for struggling firms, the package "is unlikely to overcome the effects of the COVID-19 shock," the economists wrote.

So if you thought things were already bad, these guys say buckle up for worse to come.