It is turning into a great session picking up on Friday’s performance. The surprising aspect of the day is the biggest winners have been the biggest losers of 2020. Maybe the year can be redeemed if these names can keep putting in sessions like this.
Oil stocks, an unmitigated disaster that is a combination over oversupply and governmental roadblocks.
Airlines unmitigated disaster because of lockdowns – maybe there will be clear blue skies sooner rather than later.
Boeing (BA) an unmitigated disaster of its own making.
This “worst to first theme” is playing out among the major equity indices, with the Russell 2000 far-and-away the best performer today. The index peaked in early 2018 and has struggled since. It would be something, to see a sustained move in any of the beaten down sectors and individuals stock names.
We are not there yet but nearing point where pendulum of fear shifts back to “missing out” from “hiding out.”
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