A couple of quick notes in response to questions that have been coming in: (1) The severity of the 35% decline from February into March has kept many of the models from generating shorter-term Buy Signals in what is still looking to be a counter-trend retracement. The complexity and persistence of that retracement has been unexpected and some models are now more amenable to short-term trades on the Long side. A breakdown below the trend channels up from the March lows will bring back the dominant downtrend, but until then Buys will be as likely be generated as Sells. (2) Covid may be crushing the economy, but at the same time it is creating some trading opportunities in the Pharmaceutical and Biotechnology sector. Insofar as the virus will be with us in one capacity or another for the foreseeable future, I am adding a basket of these companies, large and small, to the trading portfolio. Needless to say, high risk: high reward.
