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Payne's Perspective: March 22, 2021: Don't Let Your Feelings Control Your Actions

By Charles Payne CEO & Principal Analyst

The last five weeks in the stock market have been a wild roller coaster. But in the annals of market history, it wouldn’t qualify among the top 30 or 40% of the most devastating or frightening five-week periods. Less than a year ago, the stock market lurched into the fastest bear market in history, driven by fear of the uncontrolled death toll of a new killer.

This killer, super intelligent and adaptable, moved fast and seemed intent on wiping out the human race.

The stock market crashed.

Then the stock market stopped going down. Even before mankind devised the weapons to fight back, the stock market stopped crashing.

Even as the only answer for those in power was to have every human retreat into their homes, as many were in total isolation, market stopped crashing.

Even as empty streets suffocated tens of thousands of businesses into submission and millions of people to the brink of starvation, the market stopped crashing

Not only did the stock market stop crashing, but it actually turned around.

It picked up speed to the upside, leaving the experts’ mouths agape to wonder why or how. 

These same experts had already forecast it would take years to go back to normality, including the economy and the stock market, and this will be different, as experts scoffed at the notion vaccines would be created and delivered before the year was over.

And still, the market picked up even more steam as it staged the greatest rebound out of a bear market in history. And through it all, the experts railed so much we saw through their words to the source of their warnings.

Perhaps they were sincere at first, but their continued condemnation of the rebound revealed a disdain for those that believed in the message of the market more than the message of the experts.

Their warnings became rants, and their target wasn’t a concern, but anger that you were buying this market against their sage advice. 

And you were making a ton of money in the process.

That’s right - you held on, and many bought at the exact moment of ‘fear’ that should have driven you to the hills to ride out your isolation in a foxhole. 

Initially, the experts chuckled at this stupidity until their laughter turned to vindictive frowns and wry smiles into scowls.

You won.

Charles Payne
Wall Street Strategies


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