May 10, 2020
Weekly Market Outlook
By Keith Schneider
Equity markets shrugged off Mr.Buffet's recent dumping of his airlines stocks (mentioned at his annual shareholder's meeting last Saturday) and reversed what looked like a serious selloff int the making.
Oil and energy bounced off very depressed prices ignoring the weakness in the airlines and markets stayed focused on a gradual reopening of the economy.
Small Caps continued their recent strength on good volume.
So did lumber, which could be an early inflationary indicator.
Despite the airline industry’s weakness as measured by the ETF JETS….
One company performed well and that was SPCE, which is Virgin Galactic.
If you are not familiar with Richard Branson's latest brainchild, it is all about space travel.
The conclusion from this is that getting off the planet is a good investment, staying grounded on planet earth…. not so much.
This week's highlights are:
Stay Safe and Best Wishes for your trading