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I’ve seen in mentioned that Q1 2022 was the same as Q1 2020 – – that is, a hard, fast selloff followed by a V-shaped recovery. Well, yes, I can certainly see the similarities. But I do want to point out one key difference by way of layered charts:
Most of you know that just about the only thing that got “nuked’ with the Ukraine conflict was safe haven commodities, such as gold, which lost $200 per ounce in short order.
It’s interesting, because even though equities are absolutely exploding higher today, the most “meme” of the meme stocks, GME, is actually down over 5% as I’m typing this. There are no two stocks which better capture the zeitgeist of the animal spirits (AKA the /wsb crowd) than AMC and GME, and judging from these charts, I’d say the winners from this entire exercise are going to be the people selling calls to them.
You know things are getting ugly when I dust off the contents of my Recent IPOs watch list and actually offer up long ideas. But here we are. In any case, here are some younger stocks that seem to be basing and hold the prospect for strong price gains, assuming the minuscule dip we saw in February constitutes the only bear market we’re going to get this decade.
If there is one chart that succinctly displays what has happened with Russia (and, by extension, Ukraine) over the past month, it is this one. Here we have the US dollar versus the Ruble. Simply stated, we’re almost back to where we use to be, by way of a maniacal, swift move.
