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We hope that you have had a very Merry Christmas and holiday season and are looking forward to a Happy New Year. The year 2020 has been strange in so many ways ... some awful and some great. We are all hoping for good health and prosperity in 2021. The past several weeks have been [...]
As we head toward year-end, it is easy to chalk up 2020 to a crazy year where nothing made sense. Aspects of that might be true for living through pandemic-induced lockdowns, re-openings, and a Presidential election. But since the early days of the initial market sell-off (late February through mid-March), the market is largely [...]
Let me begin by commenting on the election and the market’s reaction thus far. While many likely expected market upheaval resulting from a delayed election outcome, that has not been the case. The market was up sharply on Monday and that trajectory continued through yesterday with the S&P 500 up over 7% through yesterday. Better [...]
As we all continue to navigate these turbulent times, it may be helpful to periodically refocus on why we invest in equity markets and what drives equity markets higher. When we buy stock in a company, we are buying an ownership stake in that company. That ownership stake gives us the right to participate in [...]
Over the past six months, I have written several articles trying to help clients catch glimpses of the economy. We all understand the tremendous shock our economy has taken as a result of this pandemic, but most media outlets provide little help in contextualizing what is happening. In previous emails, I have discussed consumer sales. [...]
For the past nearly eighteen years, I have been a trend and momentum investment manager, and it has served White Oak and our investors well. Our success is especially evident this year with outsized returns in a market that has scared many into thinking that it just can’t be. But it can be, and momentum [...]
Something that caught our eye recently was a New York Times article entitled “Once You’re out of the Market, It’s Tricky Getting Back In.” There are some oversimplifications in the piece, like a quote that begins “Jumping out of the market is a mistake”. However, we wholeheartedly agree that “…getting back into stocks can be [...]
About a month ago, I wrote about consumer spending and how credit card data suggested a pronounced recovery from lows hit in late March. We are continuing to see such in data from both government statistics and corporate earnings reports. Last Friday, the government released retail sales data for July 2020. Those data showed an [...]
As the market continues to trudge higher, I continue to hear comments that there must be something wrong with the market. How can the market move higher in the face of the continuing crises this country faces (virus, race relations, upcoming election)? I am always pleased to take the time to respond to such questions, [...]
Market action on Friday saw muted gains for most domestic equity indices, but those gains did cause the Bullish Percent for the NYSE (BPNYSE) to reverse back up into a column of Xs at 58%. As a refresher, this indicator measures the percentage of stocks in the NYSE that are trading on a current point [...]
