Is gold predictable now, at all? Let's consider some facts and observations.
3 stocks that did not back down to the virus
Walmart: standing tall
While a number of stocks lost up to 50% of their value because of the coronavirus, Walmart, although going through obvious turbulence, did significantly better than 99% of its peers. Ironically enough, its performance in 2020 is +1%. Under normal market conditions, it would hardly be a reason to brag. But when the market gets decimated sector by sector, this one-percent-strong performance is like the only whole stone left from a destroyed tower.
Amazon: with a straight face
The same can be said about Amazon. In fact, there is no visual sign of a problem with this stock. Yes, there was a sharp rise to $2,190, then a fall to $1,690, some would say “that’s a 22% drop!”. True, but the drop taken alone brings little constructive information. You have to look strategic: the stock was at $1915 at the beginning of 2020. Since then, it made its rise and fall, but now it is almost exactly there. Trading at $1,878, it is only a few dozens of dollars away from $1,915. In view of the enormous almost two-thousand-dollar value of this stock, this $37 gap may be well forgiven.
Netflix: not bad
Netflix entered January 2020 at $322 per share. Currently, it trades at $332. Although it suffered a plunge to $295 from its recent top at $390 – “almost a 100$ drop for a previously-400-dollar stock”, one can say – still, we look at the results. The virus is still around, some stocks are still down, but Netflix is $10 higher than where it was before the virus-caused crisis. Well done and keep the mark.
Gold has been losing value lately. But recently, it is back up. Is it a good time to buy?
While we speak about the USD getting stronger, the New Zealand dollar may be aiming at its 7-year lows against the CAD. Does it have the momentum for that?
Time to collect our knowledge about OPEC and prepare for its meeting.
The British pound is struggling, and there are a lot of reasons for that. What's the outlook?
GBP/JPY has formed a higher low, retraced 50% of the February-March decline, closed above 134.40 on Wednesday and is trading above the March high.