November 14, 2020, 12:33 am EST
Shopping, Gambling and China
Shopping, gambling and China are three hot words today that stock markets brought us with DJIA +400 points.
- Shopping: JWN, PVH, KSS
- Gambling: MGM, WYNN, LVS, IGT
- China: PDD, JD, DADA, FUTU
It means bulls are running fast again with aggressive mode turning on. Although there are lots of unknown on election and COVID-19 cases, stock markets seem to ignore all these factors. Therefore, market participants should simply follow the trend to ride the upswing.
Rotation is taking place from mega technologies (FB, AAPL, AMZN, GOOGL, FB, TSLA, NVDA) to DJIA stocks, consumer discretionary that used to be laggards. Please notice that this rotation could continue for days or weeks to come.
