David Stockman:

I'd say it's going in a new direction, and it's not up year after year, month after month, day after day.

It's not going to be a world where buying the dip is a no-brainer thing to do.

I think the stock market was insanely valued when the S&P 500 peaked at 3,380 on February 19th.

It has got a long way yet to correct.

Who knows what earnings are going to be?

No one knows how long these lockdowns will last.

You look at the news flow every day, and it's like a massive political arm-wrestling match between the White House and the Democratic governors and mayors.