Payne's Perspective: August 17, 2020: The Trend Is Our Friend
As of August 16th, the numbers on Covid-19 continued to improve with fewer cases and hospitalizations waning, particularly in recent states that had become hot spots. Beyond the obvious, the human part of this story is to keep in mind that many on Wall Street pointed to previously rising numbers as a reason for the rally to stall.
It’s wise to not get too exuberant; and yet, by the same token, the nation is not flat-footed anymore and has found ways to treat positive cases to minimize deaths. At the same time, society has become more adept at avoiding the scourge. We are dealing with the virus, and I believe we will beat the virus soon.
This notion has been a critical part of the resolve on display since after the initial panic. Unfortunately, positive trends do not command the kind of headlines deadly news fetches or seen by so-called financial experts as a reason for the market to express optimism. The market is optimistic, however.
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