Excerpt from Louis Navellier's Marketmail - 05/27/2020
source: Forbes
The Dow rose 912 points (+3.85%) on Monday (May 18) and held onto that gain, sparked by news of favorable vaccine trials for the coronavirus, which I discussed in my podcast last Monday. There was a lot of short covering in the initial market surge, but moving forward I expect that quality stocks will continue to fare better and should continue to emerge as the “silver lining” in a critical path for investors to follow.
In the meantime, the pressure to reopen state economies remains intense. State jobless rates are highest in tourist destinations like Nevada (28.2%) or Hawaii (22.3%), which has a 14-day mandatory quarantine for all mainland travelers and is expected to maintain travel restrictions through June 30th. Hawaii may be the last state to re-open, as most other states realize they must act soon to recover the tens of millions of jobs that America has lost since early March. I’ll discuss that dilemma more in my column, to the right.
This week, Bryan Perry advocates shorting the fragile oil market, while Gary Alexander writes about the power of growth stocks. Ivan Martchev agrees with Bryan that oil and commodities may fall again, while Jason Bodner updates the 11 sectors and examines how long this market can stay “overbought.”
Over this Memorial Day, all of us at Navellier & Associates thank all who serve and have served America – and also those who treat patients struck by coronavirus – for protecting our freedoms and our health.
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