Revenge Of The Titans
As far as dramatic turnarounds go, you could scarcely ask for a juxtaposition more stark than what US investors witnessed from Monday to Tuesday.
The rotation fascination that triggered an egregious bout of underperformance for tech and growth morphed into an equally impressive rebound just 24 hours later, as big-cap tech surged the most in months.
US yields fell ahead of a three-year sale, helping to relieve some of the pressure on recently besieged market darlings, many of which fell victim
A recently retired good friend has decided the pandemic is over for him. He goes to bars, has taken up sailing and is going to start flying around the globe as soon as places will let him in. Masks are sometimes worn as an obligation. Another friend (cruise sales) is proceeding with her annual women’s group trip to the Caribbean. Another pharmacist friend is taking her family to a safer getaway – driving 12 hours to get to another friend’s empty vacation house in the mountains.
I think people are just about to burst from wanting to go somewhere. Movie theaters may take a little bit to get going but coffee shops, restaurants, bars and resorts are not going to have to wait long. Once they do the first trip and get over the uneasiness there will be no stopping them.
Look at Tesla today, up 20%. Now that’s just gotta be a sound, well considered investment.
Only for Lt. Pete “Maverick”