The Greatest Rally of All Time

Tale of the Tape

Good evening everyone. What a miraculous stock market we have. 

Over the last 50 days, since the March 23rd bottom, the S&P 500 has been the greatest of all time. More on this below but here’s a quick chart of the major indices since that time…

Epic!

The Nasdaq 100 Index closed just .14% below all time highs – rallying all the way back after the Great COVID Crash of 2020.  

Credit where credit is due – it was the Dow Jones Industrial Average which performed best over the 50 day span. Dow 30 Mega Caps like Apple, Boeing, Home Depot, UnitedHealth Group all contributed to the outperformance. 👊

Here’s a snapshot of the closing prices across the major equity indices:

S&P 5003,122+1.37%
Nasdaq9,682+0.78%
Russell 20001,452+2.39%
Dow Jones26,269+2.05%

The Greatest Rally of All Time

Our pal Ryan Detrick shared the following with us earlier today and it’s a goodie…

Since the March 23rd bottom, we just had the greatest 50 day rally of all time in the S&P 500. Look at this sublime beauty:

The big cap index rallied 39.6% in 50 days averaging a .79% gain per day over the time period.

On March 24th, after the legitimate COVID Crash, the index ripped 9% to begin this historic run. Talking to Detrick earlier today, he quipped, 

People say that bear markets never end on a big one-day rally – well, they can’t say that no more.

Couple more tidbits from Detrick. First, there were bigger rallies in the 30’s during the Great Depression but it was the S&P 90 back then as there were only 90 stocks in the index.

Second, the S&P 500 has never been down more than 30% in a year and recovered to finish green so fingers crossed there y’all. 🤞

Here’s Ryan’s table for ya viewing pleasure:

Thanks, Ryan!

Warner Music Group

Warner Music Group IPO’d today. $WMG opened at 27, ticked down to 26.99 then screamed higher the rest of the day. The stock closed at 30.12. Not a bad 1st day on the job.

Don’t Fix Prices.

The CEO of Pilgrim’s Pride, Jayson Penn, was charged with conspiring to fix prices. Penn was not the only employee to get indicted, Roger Austin, a former VP of the company also got charged. The two will face a $1M fine and a statutory maximum penalty of 10 years in prison. Yikes. 

Here’s a tip, don’t fix prices.

Pilgrim’s Pride is the second largest chicken producer in the US. $PPC fell 12.36% following the news.

Here’s more on the investigation.

And here’s the obligatory chicken emoji 🐔

Is the NBA Back?

Today, the NBA proposed a 22-team restart to the season. 🙏  It’s not cupcakes and rainbows yet – NBA Commissioner Adam Silver will virtually meet with the Board of Governors to make a final decision.

The format of the potential restart is kinda wack but also kinda sick. 22 teams would play 8 games for seeding, then, playoffs! 

This “restart” likely will include an asterisk in the record books. So if LeBron wins… well let’s not go there 😉 

Here’s more from Bleacher Report.

Yeah, Its Official, We’re All Drinking More

And now this from the kids at Nielson Shmielson:

Since the quarantine began, alcohol sales have been booming on a weekly basis year over year. Sheesh – no production shortage here.

Online sales have gone especially nuts as people get booze delivered.

Have a look at the chart below and read more here:

Earnings Tomorrow

Be sure to know when your stocks report earnings. Here’s the full earnings calendar.

Links That Don’t Suck

Howard Lindzon Discusses Fintech, VC, and Stocks

Armored dinosaur’s last meal preserved in stunning detail

The Reopening Role of the Restroom 

How to Stay Calm During Layoff, Still Reach Financial Goals 

Will Suburbs Become a Corporate Hot Spot? 

Markets Trend, That’s Why Technical Analysis Works
 
Ibuprofen Will Now Be Tested As Coronavirus Treatment

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