The broad stock market has extended its rebound last week (April 1-7). On March 23, it sold off to the new medium-term low of 2,191.86. It was a stunning 35.4% below Feb. 19 record high of 3,393.52. The corona virus and economic slowdown fears have erased more than a third of the broad stock market value. Then we saw huge come-back rally, as the got back to local highs above 2,700 mark. Is this a new uptrend or just upward correction before another leg down? We will certainly see more short-term volatility.
The S&P 500 index has gained 6.46% since last Wednesday’s open. In the same period of time our five long and five short stock picks have gained 0.59%. So our stock picks were relatively weaker than the broad stock market. However, long stock picks have outperformed the index as they’ve gained 10.03%. But short stock picks have resulted in a loss of 8.84%. The overall results remain relatively better than the S&P 500 index over last weeks.
If stocks were in a prolonged…
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