Today we are seeing the start of an expected bounce in stocks from extreme oversold conditions. We mentioned this in greater detail in the Special Report we put out over the weekend. We will watch closely over the next few days to find out if the market can hammer out a meaningful bottom. I do want to acknowledge that this a very volatile and fluid environment. While international governments are beginning to coordinate the right responses to the coronavirus threat, the test will come when the quick rally ends, and investors are faced with the decision to either hold new positions or resume selling.
The Special Report mentioned above was distributed to all Cabana advisors, partners and investors on Saturday, Feb. 29 and addresses last week’s extraordinary market events. It can be found here.
A PDF of this week’s commentary can be found here: