Well, this is irksome. “Virus Optimism” keeps pushing the market higher.In just a few weeks’ time, about 6,000 Dow points have been slapped onto equities. We haven’t violated any key resistance levels, but I’ve got to say, I’m annoyed. I’ve beat a hasty retreat from 150% committed to 75%. This fact probably assures we’ll start plunging on Thursday.
I did want to report on something that took me virtually the entire day to put together, and it is the new Destructo watch list. I went through the entirety of my Core and Secondary watch lists (well over 1,000 stocks altogether) and copied the 170 equities that had experienced the most dreadful plunges during the past six weeks.
The list is intrinsically fascinating. Just thumbing through it is very interesting, and these days, the stocks in this list are the kind that can leap 20, 30, or 40% in a single session, because they’ve been so wiped out. Of course, shared lists are a feature for Gold and Diamond members, but it took me so damned long, I wanted to let everyone know that it exists.
If nothing else, with all the uncertainty in the world, there is ONE thing upon which we can rely to be steadfastly consistent until the end of all time. Thank you, Bank of America: