Coronavirus and politics won’t wreck the new bull market: Tony Dwyer

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Market bull Tony Dwyer sees more wild swings as the year’s second half kicks off due to a spike in coronavirus cases and growing odds of a Joe Biden presidency. 

But it’s not weighing on his optimism.

“The resurgence of the virus in the southern states and the lead by Joe Biden in the polls is probably pulling forward some of that volatility that may have happened later in the year,” the Canaccord Genuity chief market strategist told CNBC’s “Trading Nation” on Tuesday.  “We want to use that to add a little bit of risk incrementally.”

Near-term, Dwyer believes stocks

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Massive rally marks ‘frustration’ phase of the recovery: Tony Dwyer

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It may be premature to turn bullish.

Despite Monday’s massive rally, Canaccord Genuity’s Tony Dwyer finds stocks haven’t broken out of the ‘”frustration” stage of the recovery.

He breaks down the post-market crash environment into three phases: Panic, relief and frustration.

“Once you crash, you go into a panic phase,” the firm’s chief market strategist told CNBC’s “Trading Nation” on Monday. “You get this incredible decline, this panic. The market gets so historically oversold that it sets itself up for a counter trend rally, a relief rally.”

The March 23 market low sparked the 2020 relief rally, according to Dwyer.

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