What do you do if you sense that things have gotten out of control with the pandemic and yet you have companies like FedEx (FDX) coming back?
I think the answer is that you take a little off the table AGAIN even as it seems that's all you do.
Why do this?
Because we are losing the reason why you wanted to be long more than the Cramer Covid 19: the reopening of America.
Let's face it: there is only one reason why the reopening failed. It was viewed as a sign that you no longer needed to do anything to stay safe because the White House made it clear that the disease was going away.
If you are like me, you wondered why in heck we thought that anything would go right after the reopening if rules weren't followed.
The rules are simple: wear masks. Stay distant.
There isn't anything else that works against a novel virus.
There is so much denial about these two that it is pathetic.
Goldman Sachs yesterday said that it's all about masks vs. a huge decline in GDP from another shutdown.
So why doesn't something happen?
Because our regulatory authorities failed us by belittling masks for whatever reason and because people couldn't figure out why to wear a mask if it helps others not themselves. Their role model was the president of the United States. He did not and doesn't wear a mask.
Is the situation hopeless.
Yes, unless we get a vaccine NOW.
We won't get one though.
Alternatively if we get a monoclonal antibody cocktail like we have for AIDS.
It is very disappointing.
There is one other possibility. The market must continue to ignore reality. The belief that stocks always goes up continues to prevail.
It's not outlandish.
It is a slim reed unless you are a speculator then you don't really give a damn.