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Profit from the Pros By Kevin Matras Executive Vice President
S&P Blasts Out Of Bear Market, New Bull Has Begun!
Stocks soared yesterday with the S&P blasting out of its bear market!
As you know, the Dow exited its bear market on March 26th, when it closed up by more than 20% from its lowest close. Currently, the Dow is now up 26.04% from their lowest close.
The S&P finally followed suit and exited their bear market yesterday when it surged past 2,684.88, before finally closing at 2,749.98, up 22.91% from their lowest close.
The Nasdaq is not that far behind. They are now up 17.93% from their lowest close. But a close at or above 8,232.80 sees them exiting their bear market. And that's only another 1.75% away.
We also saw crude oil soar by more than 10% ahead of today's emergency OPEC meeting where Saudi Arabia and Russia are expected to cut production.
But the biggest piece of good news came from the fight against the coronavirus. It appears all of the social distancing measures are indeed bending the curve, and that we'll dodge the worst case scenario.
Gone are the predictions for up to 240,000 deaths. Now predictions are for 60,000 by early August. Still a tragedy. But I wouldn't be surprised to see that number lowered again as time goes by.
While we'll likely all be stuck inside for the rest of the month, planning is underway for how to reopen the economy. Will it be a partial open with certain regions going first and others to follow, or will it all open at once?
Nobody yet knows what that will look like. But it's a conversation we could've only dreamed about a few short weeks ago. Now we're planning for its actual implementation in the very near future.
In the meantime, we still have to take care of our businesses and employees that are temporarily out of work.
To date, there's been $100 billion in small business loans already processed, which is estimated to have saved as many as 9.5 million jobs.
But that money is going fast. And the original $350 billion is expected to be tapped out within the next few days/weeks.
Because of this, congress is expected to pass an additional $250 billion in small business loans this week to further help business and workers stay afloat for the next month or two until the economy reopens.
And once it does, this lifeline will allow everybody to hit the ground running.
But remember, the market is forward looking. It doesn't wait for the all clear sign before moving up. It does so ahead of time.
So now's the time to start building your portfolio of dream stocks for the inevitable bull market to follow.
But it's also a good idea to know how big money algorithmic traders (aka high frequency traders), are going about their business as well. Better to benefit from their moves than get taken advantage of. So be sure to read our latest commentary which outlines three steps to help you beat these algorithmic trading programs at their own game...
How often have you owned a stock that gets pummeled with no logical explanation? This is often caused by computer-driven High-Frequency Traders (HFTs). They fire off massive amounts of short trades to drive stock prices down, then profit from the rebound. Their gains come at the expense of human investors.
The good news is that Zacks has mounted a Counterstrike to catch the best of these "manipulated price drops" as they rebound. For example, we recently closed gains of +26.56%, +24.47%, and even one for +10.00% in just 1 day.
Access to these trades must be limited. It closes to new investors Sunday, April 12.
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