IKN

idle and fond bondage

Regarding the “Stocks Fall On Covid Fears” nonsense of last week

We are talking five days ago and this is a typical subheader from that day’s wire reports:

Stocks dropped on Wednesday amid widespread selling as a record number of Covid-19 cases in the U.S. and abroad sent jitters through the market. The major averages closed near their lows of the day, dropping more than 3% each.

It was poppycock and piffle then, it is still baloney and balderdash today, but IKN has no issue with pointing to reality:

The S&P, gold and even volatile silver all back to where they were before last Wednesday’s “Covid Fears” sell-off, an example of Fake News we can all appreciate. If Covid was so fearful last week, and there are more Covid-19 cases in The USA today than there were a week ago, why have the indices all recovered?

The answer is obvious. Popcorn and coffee at the ready, expecting a long night.

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