Has Reality Ended the Bear Market Rally? – Ep 569
The Peter Schiff Show Podcast
Peter Schiff
4.6 • 5.9K Ratings
🗓️ 2 May 2020
⏱️ 78 minutes
🧾️ Download transcript
Summary
Jim Cramer’s restaurant can’t stand the heat.
Businesses at increased risk for lawsuits.
Nobody is forced to go to work.
Democrats don’t believe all women.
Q&A.
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Transcript
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| 0:00.0 | The Peter Ships Show. |
| 0:09.0 | Well we got off to a rough start for the month of May. |
| 0:12.9 | The Dow Jones down 622 points at the close. |
| 0:18.2 | In fact, we were having a positive week until today and today wiped out all of the week's |
| 0:24.6 | gains. |
| 0:25.6 | We ended up with the second consecutive weekly decline. |
| 0:29.5 | It does look like there's a pretty good chance that this correction has finally run its |
| 0:34.4 | course and we're headed back down to potentially challenge or maybe even take out the March |
| 0:40.6 | lows. |
| 0:41.6 | Remember when we were bouncing around those lows I did predict that we would have a rally. |
| 0:46.8 | I thought we would have the bear market rally, a counter cyclical map rally. |
| 0:50.7 | I mean based on the Fed throwing the kitchen sink at the market. |
| 0:54.6 | Clearly there was going to be some kind of bounce. |
| 0:57.5 | The market was oversold. |
| 1:00.1 | People came in, the dip buyers. |
| 1:03.0 | And of course then the rally kind of took on a life of its own as traders began looking |
| 1:09.9 | beyond the recession to the recovery. |
| 1:13.2 | Once we turned back the economy, we turned it back on, flipped the switch and people went |
| 1:18.0 | back to work and the customers went back to the stores or the shops or the airlines or |
| 1:24.8 | whatever they were doing pre-coronuh. |
| 1:27.5 | The market started to look beyond the mountain to the valley on the other side and they |
| 1:34.3 | liked what they saw. |
... |
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