Markets Tangle with New Covid Surge
We had an incredible rally - some say epic - after the initial dip in the markets caused by the Covid pandemic. But it was a fast drop from the 10th of February to March 23rd. Then from the 24th of March to September 2nd was a rally big run up. In fact, as just one example Amazon (AMZN) that went from low of about 1,830 to as high of 3,540 in the run up, a gain of over 90%.
The markets are very forward looking and the news this past week that PFE has a 90% success rate on a Covid vaccine boosted the market. In fact, that day of the news the Dow was up at one point over 1600 points. But the markets news is short lived. It is like a job in sales where the manager exclaims that it was a fantastic job and immediately asks what are you going to do for me now. It is just never satisfied, it has to continue to charge forward.
Over the past few days we have seen an increased surge in covid. This has the market somewhat unnerved because of the fear of governmental shutdowns that will impact the economy adversely. In addition we're entering the winter months which will not be favorable four people shopping we're going to watch Amazon closely what do you think it will be doing extremely well over the next year and should move to $4,000.
The was also a recent rotation out of tech to value. That does not mean that the FAANG can’t restart and participate in the year Santa Claus rally. We have not issued any alerts recently but please keep your eyes open. We are up about 77% for the year we are hopeful to breakthrough 100%.
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