RE: Smart money ?1 Nov 2020 00:51
Agree that most of the shock was priced in yesterday, and I also believe that the first lock-down was a world shocking event if not just the United Kingdom... It was something the nation and the financial world, in every sector had never faced before since World War II, we had no cure.....No testing and we weren't prepared for the nationwide rapid death count.
We now have several companies developing a vaccine, of which some are in phase 3, testing is already being undertaken, so there is now light at the end of the tunnel, whereas last March the the World, if not just the nation was stumbling around in the dark all holding candles but without any matches to light them!
I also believe a democratic win this week will bring a welcome change to the financial markets as the republicans under their current leader has left it in tatters. Confidence will be restored that the new Govt. will work towards restoring stability.
Anyway regardless I expect the BWNG report to be very good this coming week... and yes there will be a drawback in the financial markets...it's inevitable, but nowhere near as dire as it was in March..IMPO