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Matt Dougherty discussed on WBT Afternoon Programming

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The stock was down three WBT Broadwater alongside the coach Matt Dougherty here in studio and that's a very bad news came out this morning huge unemployment numbers huge unemployment numbers a spike in unemployment we've been watching a record low unemployment it jumped in this last report to an all time high of three point two eight million in the week ending March twenty first let's be honest there are people who are looking at that number and are seeing opportunity I think you and I look at the number we're seeing people were been knocked out of work by a virus that nobody can control right now I think it I tell you what you got to give trump credit because he reacted before most by closing our travel from China which offended a lot of people late January but he he kind of was the first to do it thank god he did and so but no one in the world has managed this very well and it's going to impact your unemployment numbers it's going to impact the stock market it's going to impact a lot of things and it's beyond anyone's control one of the things it's incredible is all these numbers that you have to dive into some of these numbers to get the full picture for example we know that in Texas and in the oil patch through unemployment embers a jacked because not because a crowd of ours but because you had the Russians and the Saudis beaten oil down to twenty two dollars a barrel or whatever it was that's one because of a problem that's has nothing to do with anything the president did or the coronavirus decked out in New York City Wall Street companies here in Charlotte around the world around the country around the world people have been ordered to close their businesses down not operate in the traditional way all the bars and restaurants are closed here and everyone a lot of other places so you don't have wait staff working you don't have bad Brooks work if you don't have made to these workers yeah so I mean it I'm wondering does the market do you think the market takes into consideration the cost is sort of weird this is because a bunch of banks just grenade this is because we have a virus people can go out to eat yeah they're long term traders and investors I should say a lot of column a veces like Warren buffet and there's day to day traders and sold to day traders like the volatility they want volatility because it creates opportunity to get in and out so the long term you know if you're really a long term investor years you're thinking about buying some time in here right because you're thinking okay things get back to normal we were an all time high just a month ago right and then unless something fundamentally has changed you know they have fundamental traders and you have technical traders a technical traders would trade off of like it hits a point I'm selling right gets to support I'm buying where the fundamental traders were looking at you know what what what one of their earnings what are projected earnings would they report and and the economy the numbers like unemployment so I think that it's boring if any major major like people losing jobs yeah that hurts but they could get these jobs back in six months if the economy starts to pick up again or if you lift the ban on restaurants and bar right black people get behind right back in right so so I don't think long term I think they're friends of mine that are that are smart investors are just sitting there in the weeds get ready to buy that's right there get ready to buy the stock market and and ride it back up because you see like buying Boeing was down two thirds for what it was their fault coronavirus right fundamentals are still there and once they say go on travel and less people can't afford it now because they spent their savings to get approved for months of rent that's the issue well so here here we go all right because now we.

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