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Today we talk about how the stock market was up big AGAIN today! Dow 30 was up another 500+ points today… Tons of stocks were up huge along with this big stock market move. What in the heck is going on and let’s just LOL at this current stock market. The recession is still ongoing. Unemployment is sky-high with a lack of jobs right now. Corporate earnings are declining massively, we have pro tests and so much more, Stock market near all-time highs LOL.

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All guns all we can do is lol at this market now look at this all could we expect any different honestly, Dow Jones Industrial Average up nearly 500 points here today the market hasn’t even closed as I’m prepping this video up almost 2% today for the Dow s&p 500 up 1.3% NASDAQ up another point 8% look at the NASDAQ now NASDAQ is right there right there near an all time high.

Like yeah it’s just like it’s so dang close that you know if this market keeps going Who knows? Maybe the NASDAQ’s gonna take out an all time high by the end of the week. Absolutely. Nuts. I mean, in this market, should we expect any different than what we’re seeing right now? It is ridiculous.

Okay, look at the public account today. Public count today is up over $16,000 ridiculous is one of seven of my stock Mark counts. I don’t know what I made today. But you know, it’s got to be some insane number when you add up all the different accounts.

There wasn’t like there’s any great news for any of my companies today or something like that, or some some are shaking all this something so great app. No, it’s like it’s not even like any good news out there.

Really, honestly. And look at that move up today. It is ridiculous. Okay, look at this. Okay, there’s a dividends only account I have. It’s available for by my private group to see along with the public count only dividend stocks in this account. Okay.

Look at the movements make it a day 8% move in a dividend accounting you kidding me? You’ve got to be flipping my flapjacks. Like this isn’t some type of wall. It’s an ultra growth stock count or something?

No, that’s a dividend account. All those stocks in there like value stocks, dividend stocks, it’s like ridiculous and look at the move today, over 8% and day on a dividend account. I mean, you can’t make this stuff up.

This is just ridiculous now at this point in time, okay, so yesterday on the channel, you know, so actually 20 hours ago, I put out a video call and it was basically talking a lot about what’s going on the market what is transpiring?

And just like the how this is just hilarious, you kind of just have to we laugh at the stock market as of right now, because, you know, we’re just getting this gauntlet of bad news consistently. And the market just keeps going up and up and up.

And literally we’re pushing up against all time highs in the history of the stock market with massive amounts of bad news and you know, it’s just something you have to do you just have to laugh at it because if you if you take this stuff too serious is gonna end up getting really really frustrated.

Okay, we talked about some of the quote unquote great news okay in that video yesterday and we talked about a lot of different things case three of the main points we hit on in that video was obviously 24% roughly real unemployment rate.

You know, the highest has been since really like the Great Depression number two thing we hit on in that video. There’s major US cities and unrest, like we haven’t really seen in a long, long time. Number three, Roni Roni is still going strong like Ronnie Rona hasn’t gone away.

It’s just it’s not in the media attention at the moment, but it’s still going strong. And we talked about a ton of different things in that video. So if you want to, you know, check out that video. If you haven’t yet.

Definitely check out that one. We went through a ton of different things. But here we are today with the Dow up another, you know, 500 points, roughly and there must be a ton of great news today. Okay, it was gonna be a ton of great news. And so let’s find some really great news today. Because yeah, oh yeah, there’s got to be some By the way, look at this.

Okay, just while I prep those few slides now the Dow is up 554 points. Oh, man. Oh, man. Look at that NASDAQ getting close to 9700. Okay, so what do we find for some great news? Well, Chinese passenger carriers are going to be banned from flying to the US that’s not such a good thing.

I can tell you that at least for my city man. Las Vegas. Are you kidding me? You know we need we need as many people from Asia and especially China in general man, those are the ones that spend the major money as you know, especially gaming a lot of the resorts here in Vegas.

It’s just like straight up man. It’s not the Americans the Europeans man I can tell you that they all of them they just drink or they just come to over drink okay over drink and overeat that’s what they come and do man they’re not they’re not dropping a million dollars in a night on some high end backer wrap.

I can tell you that. That’s not what they’re doing. We need the Asian play. So you know, I you know, I don’t know what’s gonna happen in my city but man, we need them as much as the Asian play as possible. And you know, the ban on Chinese passengers is just not a good look.

In my personal opinion. Okay. This is a greatest 50 day rally in the history of the s&p 500 they history the s&p 500 greatest 50 day rally Are you kidding me? Are you kidding me? Okay, this is like that, that great news that just reinforced the stock market I guess.

You know, absolutely incredible. Okay, here’s some more quote unquote great news. Dr. Fauci says, Ronnie Rona vaccine, which by the way, we don’t even have a running run of vaccine right now. Okay, so it’s funny, we’re already talking about having and we don’t even have it yet.

But Dr. Fauci says Roni, Rona Vax may not provide immunity for very long, which means they’d have to develop something else. And we haven’t even developed the first one yet. So you know, who knows what’s going to happen with the Roni Rona vaccine, when that’s actually going to come out?

How long that’s gonna, you know, actually last for in terms of how long it works for, we don’t know any of that. That’s still the whole Roni Ronan situation still, well, you know, it’s still up in the air.

We’ll see what happens over time. But that’s, there’s no conclusion there. That’s still a mess. Okay, so that’s the more great news we got. What’s the more great news we got here today, private payrolls declined by 2.7 6 million in May.

ADP says, a smaller drop than feared a smaller truck than feared private payrolls declining nearly 3 million in May, you know, ah, you know, I guess that’s, I guess that’s great news. Okay. Walmart takes firearms off sales floor in some stores has protests continued.

That doesn’t seem so safe. Holy smokes Walmart, you know, it’s cheese. You know, that’s just scary to read something like that. Okay. q1 earnings. So we’ve now that we’ve had pretty much every single company report their q1 earnings, q1 earnings were down about 15%. Okay, down about 15%. That’s a massive decline.

Okay, massive, kind of like, we very rarely have seen 15% declines in quarterly earnings just out of the blue like that. Okay, extraordinary. But it’s nothing compared to what q2 is going to be.

Okay. q2, earnings are expected to be down 43% 43% q2, earnings are expected to be down. Keep in mind, we have a stock market that’s near all time highs during a quarter in which we’re expecting a 43% decline in earnings.

You can’t make this stuff up. Like it’s just unbelievable, guys. Unbelievable. You know, I can’t get over that number, like, you know, for anybody that’s been in the stock market for any amount of time, like, you know, you couldn’t have really ever expect to see a 43% decline in any of the beginners in the stock market that are watching this video.

Like, just remember these numbers, because these are historical numbers this put it that way. Okay. I mean, you told me that there’s no way I’m a if you like, if I just went away to you know, Mars with Ilan musk for, you know, a few years and you had told me everything that transpired.

He said, q2 earnings were going to be down 43%. And you say, where’s the stock market? I say stock market’s probably down 43% or maybe not 43%. But it’s down a lot. And you tell me a stock market’s pushing up against all time highs? I’d be like, What? What? No, no, no, no, no. Okay.

That’s a madman that no, no, no, no. Okay. We have to get remember, we have to get all this back next year. Okay. So all these massive declines, we have to get all this back next year for any of this to make any sort of sense, right?

Remember, Mark is pushing up against all time highs. And we’ve seen this massive decline in earnings that will continue. So we need to get all this back next year. All of it, we need to get right back to basically 2019 levels,

If not higher than 2019 levels very quickly. Because remember, when we talk about these all time highs, whether it’s talking about the Dow s&p 500, NASDAQ, especially the NASDAQ is pushing up right against that all time high.

Remember, they had started out the year very hot January, February, markets were moving up huge, because they were pricing in the fact that you know, 2020 was supposed to be a great year. And here it is the worst year for earnings and you know, maybe decades and decades.

And so the fact is, we need to get back all of these earnings declines next year in 2021. And some okay. And some for the valuations. TiVo remotely makes sense, okay, because these valuations are sky high right now, just something you have to keep in mind, okay, in this market, okay.

Which means if these earnings are going to come flying back to 2019 levels or higher than 2019 levels in 2021, we need two things. Okay. two very important things. One is consumers must spend like bees. Now usually, if consumers have money, they will spend like a beast. Okay?

That’s generally just like how it is the United States like it’s, you know, it’s it works. Our economy works. Generally, as long as people, the average person has money in their wallet, they generally go spend that money.

And those people go spend that money. And this is money velocity going around. That’s generally how it works. But the question is, are people going to have that money to go out there and spend over the next couple of years?

You know, we don’t know. Because right now, what 40 million Americans have filed for unemployment during this whole situation. And we know the real jobless rate is what 24% bring. Now, somewhere around there.

If we if we’re talking about we need, you know, people to go out there and spend money, we need the real unemployment rate to drop to a five to 6% type number, okay? Maybe not is you might be unrealistic to expect it to drop to three to 4% like it was, but guys, we really need unemployment down to like five 6%.

If we can get that then we’re talking maybe maybe consumers that still, you know, a relatively high cut from where we were, but at least maybe that gives us a pause. ability of consumers going out there and spending a ton of money at the malls online at the restaurants and bars and all those sorts of things you know.

Consumer led economy if that happens okay, we’re looking good but you know we don’t know how all this is gonna play out this unemployment rate is the highest we’ve seen in you know, honestly generations in the hand it’s it’s unbelievably high and we still even know if it’s peaked yet.

It might actually peak in a few weeks from now, you know, we still got to see how how that happens. Okay, and then number two, we need Rooney Rona, to not take back off in the following winter. Keep in mind, a lot of people have said essentially like, well, summertime should be calm for Ronnie Ronnie because of the weather warms up.

And you know, it’s going to be kind of a slow ramp as far as the economy goes, and people getting back out there. But a lot of folks that are experts in this field, they say Watch out from fall time, and the wintertime and the possibility of a major resurgence and like Ronnie Rhoda cases, and this really did start spread in a major way again, and we have to see what happens.

Remember, running running hasn’t been shut down, right? We just got another, you know, 20k plus new cases. And remember, some states have actually stopped testing recently, some states in some cities have stopped testing because of the protests.

And because of that volatile situation. So some states, you know, we don’t even know how accurate the numbers are here now have come out over the past few days, it could actually be quite a bit higher than what is being reported out there.

Because literally some places have stopped testing. So we this remains to be seen. We don’t know what’s going to happen in the following winter time. And if the economy does ramp back up, that means what more and more people close together, right?

In the restaurants and the bars in the stores and everywhere else. Okay, more and more folks close together. And what does that do for Ronnie Rona, especially as the weather starts to cool down, you know, this, this is something we still got to see, man, we have no clue how that’s going to potentially take back off or not take off. But you know, from a lot of experts.

It sounds like there’s at least a decent possibility we could get some major ramp ups in cases in the fall and winter. So with that being said, I’m getting three questions so often right now and let me address these three questions.

Okay, who is or what is buying 10s of billions every day, you know, to get the Dow to go up, you know, 550 points day or whatever it’s going to end up right. And to get the NASDAQ to go up again and the sp 500. To go up again.

There’s either a ton of big investors or institutions or something out there that is buying, you know, massively in this market to push it up again, and again and again and again. And who is that? or What is that?

I don’t know want to see it then and day? I have no clue it. I don’t think it’s Warren Buffett right? Buffett wasn’t even really buying on the big dip. So Buffett really wasn’t even buying on the big dip, who’s to say Warren Buffett’s buying read now, you know, I highly doubt that.

So it might not be him in this 100 and $40 billion have sitting on the sidelines. So who is it? What is it? Is it hedge funds, it could be potentially some of these hedge funds that have been you know, underperforming the market.

We know the hedge fund industry in general, you know, underperformance of market right. Now, what have we seen happening, the market going up and up and up and maybe these hedge funds are were under exposed to the market in general.

And maybe these hedge funds are looking at their peers, and some of their peers that might have been heavily more heavily invested, getting some insane gains, and that other hedge funds over here looking like like oh my gosh, look at the gains this hedge funds getting, we’re gonna lose clients to them, we get a buy, we got to get in this market, we got to get some of those gains as well.

Yellow, that could that could definitely be as essentially what you call a chase for performance. And this happens, especially in hot years for the market. And what will end up happening is over exacerbate the move to the upside because a lot of these hedge funds just have to get in they have to get in there like I need the gains, I need the gains.

And so they keep piling and they keep piling in and usually ends up in a bad situation for the market over the next six to 12 months whenever that situation happens. But it’s a possibility. Okay, it’s definitely a possibility that’s hedge funds chasing performance so that just.

I need any more money and I need more money and I got to get these gains look at the guy the hedge fund over there is getting these gains. What What am I doing? I’m under exposed. Okay, that that could potentially be it. But you know, we don’t know.

Okay, now the question I’m getting a lot is why is there no real selling pressure in this market? Okay, so what is if there’s a ton of hedge funds buying and chasing for performance, then they’re truly not trying to sell out of these positions because they’re trying to capitalize hopefully on more and more gains, okay.

But number two, a lot of folks do hold some positions that they really don’t want to sell out of for instance, you know, a lot of my stocks have gone up considerably over the last couple months and with that being said, a lot of these stocks I don’t want to sell out because I love them for the long term. So although maybe they might be getting a little overvalued short term, if it’s an investment I really love for the next five years.

I really don’t want to sell it in the end. You know, the perfect examples are stock I talked about more than any other on this channel, right? Tesla, right most popular stock on the channel, big investment of mine, I think we hold just in the public count alone, like 150 shares of Tesla, right?

And if I look at Tesla, this was a stock that is You know, in that big fall, it fell under 400k, the stock fell to under 400. Now it’s pushing up, you know, pretty close to 900. He said, Well, you know, why don’t we just sell that? Well, I don’t, I’m not interested in putting selling pressure on Tesla stock.

Why? Because ultimately, I think it has a lot more potential over the next five years. So you have definitely have a lot of investors that are just not interested in creating selling pressure, because they look at some of these positions.

And I’m like, what, why don’t want to sell that when I think it might double over the next five years or triple over the next five years? Like, why would I want to get out of that. And so I can definitely understand from a lot of the long term community, especially just not selling so you know.

If you don’t have all these folks saying we’re going to sell them is not going to create selling pressure. And especially if you have these big guys that are buying in, they’re trying to get the gains over the next several months before the end of 2020, you know, over the next six, seven months or whatever.

They’re not going to America to create any selling pressure till they have to create selling pressure, which usually isn’t toward like the end of the year, essentially. Then the next question I’m getting a lot is at this point, what will it take for a major move down in this market?

Okay, we’re talking about 10 to 25% move, that’s when you consider a major move anything and they’d like to double digits or 15% move 20% move, will will it take? And honestly, I don’t even know anymore? Okay?

I don’t even know like what will it take for the market to go down in any major way? Cuz you think about this. We’ve gotten like almost every bit of bad news you could get okay. Roni, Rona cases, you know, still coming in high, right?

Massive unemployment, horrible GDP, horrible earnings, no outlooks, no clarity on the economy, or from corporations, valuation sky high balance sheets worse. You look at everything. And we’ve gotten all this gauntlet of bad news and bad data. And what have we done, we’ve just keep going up, we just keep going up.

And so at this point, I’m like, I don’t even know what can move the market down. Like, like literally what couldn’t move this market down. If all that couldn’t move the market down? What the heck can move this market down?

You know, I it’s kind of like the market just in one of those situations where it’s like, Don’t tell me anything, I got my ears plugged. You know, I don’t wanna listening. I’m not listening. I’m not listening.

I’m not listening. That’s it, the market feels like right now. And so, you know, this question is impossible for me to answer because everything that could have been thrown at this market has been thrown at this market now.

And we’re near all time highs. Yeah, I can like what else? What else, do you not? There’s no, there’s really nothing else. massive unemployment, massive GDP declines, massive corporate earnings through the for guidance, awful, you know, GDP declines, like we’ve never seen, like, what else can you get?

What else can you possibly get for Mark to move down and it’s still not moving down? So you know, I don’t know what else can be thrown at this market to actually move it down. But you know, and like I said in the video the other day.

I can understand why some folks just feel like, you know, the whole stocks only go up movement. Because when you look at the market, what has happened here, you know, I who knows, maybe it’s the stimulus money out there, you know.

Maybe it’s the new $3 trillion that was added to the Fed’s balance sheet, you know, we don’t really know what it is, but at the end of the day, this market is just a beast is straight up, it’s just an animal.

It is a beast, and it will not be denied at the moment, you know, who knows if any of this stuff will ever matter, but there’s anything bad news wise that could have came out for the stock market has come out over the past couple months.

And and here we are today, pushing up close to all time highs, NASDAQ what was 150 points away from an all time high, you know, that’s, it’s right there. It’s right there. You know, percent or two away from an all time high, you know, it’s extraordinary.

It’s absolutely extraordinary. So, anyways, all we could do is we can just laugh out loud at this market. You can’t take this stuff too serious man, you got to just have a sense of humor with this because it’s just it’s just funny now at this point time guys.

So I hope you enjoyed this video. As always, don’t forget to smash the thumbs up button. Let me know your opinion in that comment section. As always, thank you for watching. Have a great day, by the way got free resources linked in the description.

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