Today's Bull Market -- For The Archives -- September 2, 2020

Biggest rally since 1938 -- CNBC senior financial analyst but that was said back in April, 2020, also. 

Fortune headline: the market's rally is this close to becoming the "greatest of all time."

The two words I keep hearing from "analysts" over at CNBC:

• "bull" as in bull market;
• "accelerated" as in the rally is due to the pandemic accelerating the digital world from what we were expecting by 2030, telescoped back into 2020

I don't know when I first heard them use these two words, but the use of both words seems to be fairly recent, within the last week or so.

It is interesting. I can understand the hesitation in calling this a "bull market." 

For the archives:

• Dow 30: closed up 1.6%; closed up 455 points; shot through 29,000;
• S&P 500: closed up 1.5%; closed up 54 points to close barely above 3,580; new all-time record, of course;
• NASDAQ: closed up almost 1%; closed up 117 points; clearly 12,000 for the first time ever;
• TSLA: CNBC used the word "tank" to describe TSLA's 6% drop during the day; said similar words to describe AAPL's 2% pullback. In both cases, overly harsh. TSLA would have to fall at least 20% to call it "tanking"; remember, its P/E is almost 1,200. With a P/E of only 39 or so for AAPL and a forward P/E of 10, I would be very concerned if AAPL had any "significant, sustained pullback," a gradual meltdown, for example.
  

The butcher.