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Morning Commentary

Everyday Is Valentine’s Day

By Charles Payne, CEO & Principal Analyst
2/16/2021 10:26 AM

We start today with major indices opening at all-time highs and participants extremely optimistic.

Energy continues to be in its own orbit, powering higher on the latest cold front that blanketed the nation.  Meanwhile, Communication Services and Technology also act great.  By the same token, investors are eschewing traditional safe havens Utilities and Consumer Staples, which have struggled.

With earnings season more than halfway over, and bonanza results, it’s harder to argue for a pullback other than the typical knee-jerk assumption that every time the market rallies its due for a pullback.  The monthly Bank of America global money manager survey on bearishness stated: “Bottom line: the only reason to be bearish is…there is no reason to be bearish”

S&P 500 Index



Communication Services XLC



Consumer Discretionary XLY



Consumer Staples XLP



Energy XLE



Financials XLF



Health Care XLV



Industrials XLI



Materials XLB



Real Estate XLRE



Technology XLK



Utilities XLU




Bank of America Survey has seen a serious push into two sectors we have been very bullish on for months: Industrials and Materials.  The latter should get a nice boost from reaction to Vulcan Materials (VMC)


Portfolio Review

We added to Consumer Discretionary in the Hotline Model Portfolio. If you are not a current subscriber to our premium Hotline service, contact your account representative or email Info@wstreet.com to get started today.

Today’s Session

Covid-19 cases are moving on right direction:

Continued momentum in vaccine distribution and a sharp decline in Covid-19 cases haven’t had the impact one might have assumed, as many reopening and normalization stocks continue to lag. On Friday, Live Nation (LYV) shares closed at a record high, but several other names that would benefit from reopening were down for the week.

Conversely, many of the so-called lockdown names posted strong gains for the week.



DIN -3.70%

ZM +3.22

CCL -3.33%

PTON +1.91%

SIX +1.58

DOCU +5.17%

CZR -3.17%

TDOC +3.10%

Economic data continues to come in stronger including Empire State Manufacturing Survey (we’ll have details on the afternoon note).

Strange world some days!

Lorin K on 2/16/2021 3:10:43 PM

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