Momentum Monday – Stocks Are Moving Down Together
Courtesy of Howard Lindzon
Happy Monday everyone.
It was a rocky week for momentum stocks last week. Most have fallen together now 10-20 percent from recent highs. When they move together like this, it is very difficult to hide.
The S&P is now barely positive on the year.
The $VIX has crossed 40 so fear has definitely surfaced. It turns out, the election is making the markets nervous …
Ivanhoff and I do our usual weekly tour of the markets and you wan watch/listen right here.
The lockdowns in Europe continue and the fear of a US lockdown are starting to get priced in.
I follow two stocks to track the lockdown economy…Boeing and Simon Property Group and they look ready to fold and drop. Boeing has already tipped over.
The playbook is still to buy digital, but when?
One statistic points to a positive November for markets.
My gut says to do nothing this week and watch.
Disclaimer: All information provided is for educational purposes only and does not constitute investment, legal or tax advice, or an offer to buy or sell any security. For full disclosures, click here.
