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.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market news: Live updates on the Dow, S&P 500, companies and more - CNNUS stocks set to open lower as investors continue to worry about the coronavirus pandemic's impact on the economy. Here's what's moving markets today: CNN is a joke Well
Source: cnnbrk - 🏆 393. / 55 Read more »

Dow, S&P 500 slide as focus shifts to earnings; Nasdaq gainsThe Dow and S&P 500 fell on Monday as U.S. companies prepared to kick off a quarterly earnings season expected to be rough due to the coronavirus pandemic, while Amazon.com gains helped the Nasdaq end higher. Economic downfall is the biggest impact of the pandemic Latest updates | cases per million population👇 COVID2019 lockdowneffect What's coronavirus?
Source: Reuters - 🏆 2. / 97 Read more »

Wall Street analysts turned very bullish on these stocks during the pandemic market turmoilFor subscribers: Wall Street analysts turned very bullish on these stocks during the pandemic market turmoil Check out CNBCPro and get your first 7 days free. Pro it aint Coke tho
Source: CNBC - 🏆 12. / 72 Read more »