Tale of the Tape
You may have heard that we are in a bull market now because we are 20% off the lows. Well, sure. Say what you may, it looks like we are still in a downtrend. Who knows though, place your bets…
The Dow is up 3960 points or 21.3% from Monday’s close. 3960 points, wtaf.
Utilities and real estate lead the internals while consumer discretionary lagged, closing up a measly 4.14%
We got our 3rd green day in a row, what are the odds we make it 4?
| S&P 500 | 2,630 | +6.24% |
| Nasdaq | 7,797 | +5.60% |
| Russell 2000 | 1,180 | +6.30% |
| Dow Jones | 22,552 | +6.38% |
Kush Coma
Marijuana stocks have been ripping your frontal cortex off. Cannabis ETF, $MJ, is 32% off its March 18th closing low. States like California, Colorado, and Oregon declared cannabis dispensaries as “essential businesses”, allowing them to stay open during “stay-at-home” periods. Anything to keep people happy. Soma Holiday.
Check out the recent performance from a few notable cannabis names.
Not so pretty if you look at the 1-year…
Also… Dr. Dre’s The Chronic Album Inducted Into Library of Congress
Stocktwits Social Sentiment
Here’s the Stocktwits Social Sentiment Index. Sentiment flattened out today despite the rally in the market. Are we in for another leg lower? Place your bets…
Paul Tudor Jones x CNBC
Paul Tudor Jones appeared on CNBC this morning to talk about the current market environment. Tudor even mentioned that his daughter tested positive for COVID-19 and that she is recovering. It was great to hear from you, Mr. Jones. We love you.
Here’s the full CNBC interview.
Amazon. Beast.
Here’s a great chart from Strategas showing Amazon’s relative strength vs the consumer discretionary sector.
Coronavirus Links
Things are confusing out there. Here are a few solid links regarding coronavirus:
Coronavirus Live Updates – New York Times
All the Coronavirus Statistics Are Flawed – The Atlantic
Relief: What’s In It For You? – NPR
Today on Stocktwits…
Links That Don’t Suck
An Unsettling Crime at the Top of the World
Infinite Loops: Liz Hall – An Outsider’s Perspective
Surviving Your Very First Market Crash
The Economic Stimulus Bill Explained
