The past week has seen the market rocket higher on hopes for a massive $2 trillion economic stimulus plan that would try to help consumers and businesses get through the tunnel of productivity and financial devastation that this pandemic has created.
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As financial markets begin to thaw, global leaders build consensus on how to address this pandemic, options of potential interim treatments for Covid-19 surface and the framework of economic relief starts to firm up (even though it won’t be enough), the stock market be...
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Because of all the craziness out there I’m pushing back the stock section of this week’s update to tomorrow.
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We’re taking another step to adjust our market exposure today.
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To say that the coronavirus has infected the stock market would be to state the obvious. Less obvious is the answer to the question; what’s the antidote?
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With this stock below its September lows, we’re back to square one. How did we get here?
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This is the type of day where you’d typically want to be just watching and waiting, or even doing a little buying. But we have two positions that are at or near prices where we need to take some action.
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It looks like we’ll be ending this week on a big down note as stocks are heading south once again. The culprit is no surprise; concern that this virus will spark at least a short-term economic downturn.
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This portfolio stock reported preliminary Q4 revenue results a while back that were better than expected, and last night in the official earnings release and on the conference call management announced that profitability was also way above expectations.
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This portfolio stock reported last night that Q4 revenue rose 20.6% to $43.5 million (beating by $1.7 million) and that adjusted EPS of -$0.21 beat by $0.07.
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The only news anybody seems to care about is the coronavirus. While that’s clearly a concern and not something to take lightly, I don’t think it changes the bigger picture trend that stocks are the place to be over the coming years.
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Regarding the here and now, we’re starting to see signals that we could have a market dip, which would be entirely normal given that it’s only had two small retreats since stocks began racing higher in September.
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Sell the remaining half of this portfolio stock.
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Individual stocks continue to move around based on earnings reports and, for the most part, things appear to be quite good. Many management teams aren’t yet sticking their necks out and issuing rosy guidance for 2020, and that’s causing a few dips here there...
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This portfolio stock reported last night with revenue that was up 33.3% to $91.7 billion and beat by $3.4 million and adjusted EPS of $0.03 that beat by $0.04.
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Back to the market, there’s more good news than bad from my perspective. Employment and hiring are good, the lessening of tariffs on $75 billion worth of U.S exports to China is good, interest rates remain low (many economists see a rate cut too)...
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This portfolio stock recently reported first quarter fiscal 2020 results, and while the stock has been a little volatile since reporting, the punchline is that all appears on track.
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As far as the market goes, there’s no doubt this coronavirus has thrown a wrench into things.
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The message this week is to stay invested but don’t go crazy on the buy side and don’t get scared on the sell side. Just be measured and try not to do anything that’s uncharacteristic of what you would do in a “normal” market.
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The big thing on most investors’ minds is whether or not this market can go higher.
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