The DC Today - Monday, March 20, 2023

Episode 581: The DC Today - Monday, March 20, 2023

Show notes

Today's Post -

For the second week in a row, I get to do hours upon hours of reading and writing over the weekend, only to have Sunday interventions make obsolete much of that reading and writing. Keep reading to understand more …

There is no question that the major story in markets right now is sort of the only story, and that is the day-to-day perceptions of the banking system at home and abroad. Last week the market was down a hundred points Monday but had been up +350 in the middle of the day. Then Tuesday was up +350 before Wednesday was down -280 (but had been down -700 points). Thursday was then up +375 points, and Friday was down -380 points. So all in, from beginning to end, the market was dead flat on the week. Yep. Dead flat but with substantial movement each and every day. And then, today, we were up +383 points, basically the exact same level as Friday’s downturn. THIS is the type of market where people have a chance to act truly, truly foolish. It is also a prime-time example of directionless volatility.

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David Bahnsen

David Bahnsen

David is the Founder, Managing Partner, and the Chief Investment Officer of The Bahnsen Group.

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