It’s safe to buy stocks when the S&P 500 is above this level, but now is not the time

I’ve been getting a flood of emails from acquaintances eager to buy digital currencies, calendar spreads , foreign currencies, penny stocks, and any company that claims to cure the virus.

If the Standard & Poor’s 500 SPX, -2.20%, for example, can climb back to 3015, which is its 200-day moving average, and stay there for a period of time, it is worth considering going long. However, because the Fed is behind the rally, because the economy is in so much trouble, I would be cautious about buying even the S&P 500 did reach 3015. I would give it a week or two, if not longer, to sustain that level. There is no rush to buy. There is no reason to be first.

Investing rules for a bear market 1. There will be fantastic bargains in the future, but it’s still too early to go all in. If this is a typical bear market, it’s likely to last six months to two years.

Billionaire wealth increases last week: Jeff Bezos: +$6.8B Mark Zuckerberg: +$6.2B Warren Buffett: +$5B Elon Musk: +$4.2B Larry Ellison: +$4B Larry Page: +$3.6B Bill Gates: +$3.6B Meanwhile, more than 16 million Americans have filed for unemployment in the past month.

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