August 24, 2021, 2:53 pm EDT
The Day for Traveling and Shopping
Today seems to be the day for traveling and shopping based on stock market performance. Cruises (RCL, CCL, NCLH), hotels (LVS, MGM, MAR, HLT, CZR), airlines (UAL, DAL), booking (BKNG), shopping (BBY, JWN, M) have become the leading stocks today.
It looks as if Pfizer’s (PFE) approval of vaccines yesterday gave hope for more economic openings and activities. It could be an optimistic view but it is also possible. As we mentioned in our weekly summary Tough Fight Between Bulls and Bears, Bulls are not done yet. Furthermore, all indexes are at record highs again. Watching and adding positions to the portfolio makes sense. But, it has to be selective and careful. We will look into strong fundamental and momentum stocks in our coming stock pick articles to see if we can participate in the rally.