Stocks Leap As Real Estate Market Jumps

Meanwhile, another detail not included in this headline was that mortgage defaults are skyrocketing! So much for the health of the housing market!

But the Dow closed over 500 points today!

The Economy Is Tanking, So BUY STOCKS!

Dow was up nearly 300 points today! It's a good thing stocks were higher, or I would have thought that the economy was tanking! Just look at the real news in this headline on Marketwatch!

No Rhyme, Reason, or Logic In These Markets

Over the past decade, we have lost all perception of risk or reality in these markets. That doesn't reduce risk; it increases it!

Our Contrarian Market -- In Two Headlines

Both of these articles are on Marketwatch this afternoon. Something seems a little askew and contrary between markets and reality. 

Stocks Soar On Nothing But Hope

These two stories were the major ones today. Just the hope of a cure for the COVID-19 coronavirus sent the Dow to a close up more than 700 points, despite that the manufacturer of the hoped-for cure, Gilead, indicated that data is not yet sufficient to expect a cure.

Meanwhile, the market ignored economic bad news today that is the worst since World War II:

Interestingly, Mark Hulbert Agrees

Hulbert expects the bottom in August of this year, and he summarizes in his article this way:
"When the bear market does finally hit its low, you are unlikely to even be asking whether the bear has breathed his last. You’re more likely at that point to have given up on equities altogether, throwing in the towel and cautioning anyone who would listen that any rally attempt is nothing but a bear-market trap to lure gullible bulls."