Personally, I'm looking for a bit more dip this week and then will put all my money in.
The market abhors unknowns. I think over the last week, our country has put a lot of those unknowns behind us… I'm not saying that we know exactly how this will all play out, but here are the highlights from the US taskforce presentation this afternoon:
- stay at home and other social distancing measures extended to end of April
- corporate America involved in executing essential business and their workers have shown a willingness to keep factories and deliveries running (for now)
- we now have a defined program of govt liquidity and financial support for individuals and companies
- we now have a timeline for "when this ends" whether right or wrong… projected peak of deaths mid April, projected end of stay at home orders end of April
- we have nearly a million tests complete in the U.S.
It seems to me that we have now a statistically sound sampling to understand what % of testing positive from those in the general population by state. Less risk. We also have more testing underway, more PPE being deployed, and we're damn close to seeing approval on treatments.
No doubt some of this will evolve but there are a lot fewer unknowns than a week ago. My view is we will see some dips this week, but it is now time to reinvest if you're in it for the long-term. Happy to hear and discuss opposing viewpoints, of course!