What an amazing session yesterday, where buying triggered additional buying, as more fence-sitters were forced to buy or to keep missing one of the greatest rallies ever.

What’s really intriguing is most would-be buyers cooling their heels on the sidelines want to buy a big dip, and it just isn’t happening.

Market breadth was good but not as strong as a 275 point move in the Dow Jones Industrial Average would suggest.

Market Breadth	NYSE	NASDAQ
Advancing	1,768	1,998
Declining	1,156	1,202
52 Week High	270	256
52 Week Low	35	50
Advancing	2.54B	1.60B
Declining	1.26B	710.14M

2020 YTD

• S&P 500 +4.6%

• NASDAQ Composite +8.4%

• Dow Jones Industrial Average +3.6%

• Russell 2000 +1.3%

Bernie & Wall Street

The question after the stock market erupted higher the day after the dust settled in New Hampshire is if the investors think Bernie Sanders will be the democrat nominee but would lose big time against President Trump.  How could I come to that conclusion?

One stock is the perfect illustration of how Wall Street was quaking in its collective boots when Elizabeth Warren had all the moment  but broke out the champagne with Bernie taking the lead.   United Health Group (UNH) shares began plunging last summer as Warren began to pop up on top in various polls. 

CBS Tracking Poll Sept 2019

• Warren 27%
• Biden 26%
• Sanders 19%

George Washington University Poll Oct 2019

• Warren 28%
• Sanders 21%
• Biden 18%

United Health shares hit rock bottom on Oct 15^th at $215.00 before finding its footing, as Warren began to fade upon unveiling “details” on how she would pay for the Green New Deal.  Wall Street thought Warren, who says she’s a capitalist, could have won in a general election.  Judging from the 4.3% pop yesterday in the stock, its clear Wall Street might actually be rooting for the socialist. 

Portfolio Approach        

We added a new position in technology in the model portfolio and took profits in a Healthcare stock.

Today

This morning, the markets are under some pressure after an acknowledge spike in people affected by the coronavirus.  The change comes as a result of the inclusion of new testing methods.  The news is more alarming in the sense China hasn’t been forthcoming,  and it is still refusing to let an independent medical and scientist team from America into the country.

The good news is cases outside Hubei Province are growing a much slower pace.

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