The ReOpening trade peaked in mid-March and has been consolidating with lackluster performance, until recently. Over the past two trading sessions, it looks like momentum might have returned. Note the below chart, which uses the Small Cap RUSSELL 2000 Index as a proxy for ReOpening stocks. The Small Caps are starting to outperform the S&PContinue reading “ReOpening Stocks are on the move…AGAIN”
Author Archives: John Pugliano
PLURALSIGHT acquired by Vista
This week COVID90 portfolio stock PLURALSIGHT (PS) was officially acquired and taken private by Vista Equity Partners. The sale price was $22.50/share. This is the first of the COVID90 stocks I’ve parted with, and if given the choice, I wouldn’t have sold. I think PS could easily have gone to $30. As to my overallContinue reading “PLURALSIGHT acquired by Vista”
Sold Utility Stocks
Today I sold the 12 Utility stocks that were purchased as a hedge on January 19, ahead of the Inauguration. The hedge worked. The “bottom of the barrel” COVID recovery stocks have since stagnated or consolidated while the Utilities have delivered a double digit return. In the wake of the 4th COVID wave, I thinkContinue reading “Sold Utility Stocks”
Buying the non-Volatility
The Market’s been choppy…but not volatile. Although there’s been recent selling pressure, volatility as measured by the VIX has been in decline. In fact, despite the current selloff, the VIX is at its lowest level since pre-COVID February 2020. That’s an extremely positive market indicator. This drawdown is also characteristic of a 2021 pattern: end-of-monthContinue reading “Buying the non-Volatility”
February Tech Unwind- buying the dip
The Tech Unwind and the Rotation out of Stay-at-Home stocks accelerated this week with the NASDAQ declining 4% and dropping below its 50dma; while the S&P 500 absorbed some of the buyers, thus faring better, down only 2.5% and holding at its 50dma. Because of the underlying economic data, and recent stock market price action,Continue reading “February Tech Unwind- buying the dip”