
Dow rebounds more than 11% in best day since 1933 as Congress nears deal - miles
https://www.cnbc.com/2020/03/23/dow-futures-up-more-than-200-points-as-senate-debates-over-virus-bill.html
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aazaa
> The 30-stock average closed 2,112.98 points higher — or more than 11% — at
> 20,704.91, notching its biggest one-day percentage gain since 1933. ...

Bear market rallies are the absolute worst. They provide an outlet for pent-up
demand and hope, while beating the tar out of shorts, who must close their
positions by buying, driving prices unsustainably higher.

Rinse and repeat, all the way down the jagged slide of misery.

I must be missing something, because this Wikipedia chart shows that today's
rally was the highest one-day percentage gain since 1929:

[https://en.wikipedia.org/wiki/List_of_largest_daily_changes_...](https://en.wikipedia.org/wiki/List_of_largest_daily_changes_in_the_Dow_Jones_Industrial_Average#Largest_percentage_changes)

And that rally was 6x or so _higher_ (258.47) than the eventual bottom (41.22)

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naveen99
Put call parity makes the jagged slide of misery identical to the jagged
ascent of the bliss. The only consistent thing is the market likes to shake
out the over leveraged weather they are rich or poor.

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foobarbazetc
Meh.

Once the bodies start stacking up this thing will go into free fall again.

Deaths in the US currently doubling every 3 days.

NYC numbers are going to dwarf Italy because Cuomo didn’t shut it down before
the curve went exponential.

The median clinical course is 20-25 days, and the hospitals are already at
capacity.

I don’t even want to think about what Florida looks like in 2-3 weeks.

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nateburke
I hear you on Florida. I just spent the past week trying to convince my
parents to cut their FL vacation short. Thankfully they understood the gravity
of the situation and drove back home.

~~~
foobarbazetc
[https://twitter.com/jeffschweers/status/1242936058301558786?...](https://twitter.com/jeffschweers/status/1242936058301558786?s=21)

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robodale
I assume this is the real dead cat bounce. Buckle up.

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sharemywin
wonder if this one of those buy the rumor sell the news or the end of the bear
market.

Seems like theirs a lot of bad new left. But, is it bad news that's not
already baked in.

