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July 27, 2020
He's been bullish since late-March due to so much stimulus in the system, but in the last 3 weeks the markets has been narrowing with tech and healthcare facing headwinds now. 10 days ago we saw a strong reversal intra-day. He's become cautious, taking profits in tech names and holds short positions. He sees a rotation into transport stocks and medical devices. Expect bumpiness in the next few weeks. Earnings this week are important to watch to see how the market reacts to those reports and to guidance. Markets consistently rally on good vaccine or stimulus news, including today.
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He's been bullish since late-March due to so much stimulus in the system, but in the last 3 weeks the markets has been narrowing with tech and healthcare facing headwinds now. 10 days ago we saw a strong reversal intra-day. He's become cautious, taking profits in tech names and holds short positions. He sees a rotation into transport stocks and medical devices. Expect bumpiness in the next few weeks. Earnings this week are important to watch to see how the market reacts to those reports and to guidance. Markets consistently rally on good vaccine or stimulus news, including today.