Payne's Perspective: January 11, 2021: Beast Mode
Just as we were settling into the notion of a more orderly and less stressful New Year, all hell broke loose. Heartbreaking images from the week will stay with us forever. I hope at some point, we’ll use this as a rallying cry for solutions rather than fodder for more division.
The stock market had a moment out of the gate that had folks wondering if the special rally moved on with Father Time. The first day of trading began with a monster swoon rivaling record first-day declines in history. They all climbed off intraday lows to finish down by only 1.5%.
The buy-on-dips crowd was still waiting in the wings, so when the dust settled on the week, the market was still in Beast Mode.
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