Excerpt from Louis Navellier's Marketmail - 04/21/2020
source: Bloomberg
The “Zombie Apocalypse” that many bears have been predicting ran into two problems last week. First, on down days, like Tuesday, the S&P 500’s trading volume was the lightest since February 21st, so if investors are not panicking on down days, we should not panic. Second, better-than-expected earnings from companies like Chipotle Mexican Grill proved that companies with positive results can break out!
Navellier & Associates does own CMG in managed accounts oroursub-advised mutual fund. Louis Navellier and his family own CMG via the sub-advised Mutual Fund.
The market basically fell sharply on Monday and Tuesday but recovered strongly Wednesday and rose well on Friday, too.I recorded multiple podcasts last week that you can hear via these following links:
Monday, April 20 (-592.05 Dow points)
Tuesday, April 21 (-631.56)
Wednesday, April 22 (+456.94)
The big news last week was the shocking collapse of crude oil futures prices, which I’ll cover in my column to the right. Then Bryan Perry argues that the “viral” U.S. market is being fed largely by funds fleeing Europe. Gary Alexander argues for selective business openings, like scientific controlled trials. Ivan Martchev argues for a fairly strong second-half U.S. economic recovery, while Jason Bodner examines the tension between low buying and selling volume and asks: What’s likely to happen next?
A Look Ahead
By Louis Navellier
Commodity Price Deflation and Super-Low Rates Make Stocks Attractive
Income Mail
By Bryan Perry
What to Make Of This "Viral" Stock Market
Growth Mail
By Gary Alexander
Who Will Be the First Brave Business Owner to Open Up Shop?
Global Mail
By Ivan Martchev
It's Often Darkest Before the Dawn
Sector Spotlight
By Jason Bodner
What's Next: Bounce or Bust?