The psychology of the market will be quite different now as news hits.
Here's how we would play shares of the pharmaceutical giant now.
Both the Dow and the S&P are still under where they were last Wednesday, despite the bounce.
The market is all about technicals now. The real buying will only come once the virus is contained or Fed goes all in, as China seems to be willing to do so at all costs.
I want you to write down what I always tell you, and post it somewhere where you can see it when you need it: Understand, Identify, Adapt, Overcome, and Maintain.
Every minute detail and data point is misinterpreted to paint a positive picture for stocks.
Kraft Heinz, Macy's and Renault have all recently been downgraded, and now the question must be asked: Is this the start of something bigger?
We're also focused on buying bonds that can survive a bad downturn. This gives us a game plan going into a recession.
In some scenarios, the 10-year is actually cheap at 1.65%; here's why.
What the central bank said and hinted about rate cuts, inflation, repo lending and the coronavirus.