Stocks seem to be shrugging off disquieting news about the coronavirus a little too easily, so be careful. Most of the bad news has concerned the apparent spreading of the disease more rapidly than had been anticipated just a week ago. Far from peaking, the virus seems to be gaining momentum. Wall Street took the most recent headlines about this not merely in stride, but used them to beat stocks down Wednesday night in order to set up some bargain hunting opportunities ahead of Thursday’s opening. We should pay particular attention to AAPL, the most important stock-market bellwether of them all, because there are technical signs that its flirtation with new highs over the last month or so has masked distribution by the usual sleazeballs. All too often, the firms they work for tout stocks like AAPL to make it easier for them to unload shares on the unwary. If that sounds shocking, then you’ve been living on Mars.
Wall Street a Little Too Zen about Coronavirus
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