Worst Day in Two Years

Today was a very rough day for the stock market. Fears of the coronavirus are finally landing hard on the financial markets. The S&P 500 fell 3.35% today. This was the worst day for the index in more than two years. The Dow lost over 1,000 points.

If it’s any consolation, our Buy List did much better than the overall market. For the day, our Buy List lost -2.30%. It’s not often we beat the market by 1% in a day. Eighteen of our 25 stocks beat the market today although every stock on our Buy List was down.

There was an unusually wide gap between High Beta and Low Vol today. Low Vol fell -1.76% while High Beta lost -4.80%. The VIX jumped from 18 to 25.

The futures market now shows slightly better than even odds of a Fed rate cut in April.

Posted by on February 24th, 2020 at 5:26 pm


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.