The FREE Investment Newsletter That Really Works!
In three days the stock market has put on almost 1000 points. Why did it do that? Because in the early morning hours, a blurb was caught by our Algo's here in the states. This was what crossed the wires at 3 am:
CHINESE TV: RESEARCH TEAM AT ZHEJIANG UNIVERSITY HAS FOUND AN EFFECTIVE DRUG TO TREAT PEOPLE WITH THE NEW CORONA VIRUS
That's all the algo's needed to turn the futures from being red by 100, to green by 240. Then after opening big, the market simply powered itself higher, to close today + 483 points. Amazing isn't it? It is, especially since there is no treatment according to the World Health Org. But the market doesn't care about the facts, it just needs headlines it can use to move higher!
By the way, in the general commentary area of the letter, we talk about the virus in China and just how bad the real numbers might be. The Taiwan Times put up an article suggesting that there could be 24K dead, not the 400 we're hearing about. So, give today's letter a read, it's a good one.