Tuesday 9 June 2020

Boeing Meets Tesla

I trust some of you are making a little money on Boeing, Pfeizer and Tesla after an outstanding day yesterday. 

Boeing are now +57.56% after just one week!

I don't think I'll be selling anytime soon either, with this Barron's headline:

Boeing Stock Is Surging Again. It’s Looking More Like Tesla These Days.
Tesla is the +202.37% investment seen on the left, so there seems to be plenty of runway left for Boeing. 

Currently at 230.5, Boeing was at 347.45 on February 12th, so it really does have some upside with Seaport Global Securities today recommending a Buy and looking at a $277 price target. 

Normally I'd be quite pleased with the 3.11% on Pfeizer, another oversold stock purchased at the same time as Boeing last Monday, but performance is all relative, and relatively it has been disappointing. 

Both are components of 30 stock Dow Jones Industrial Average which was up another 1.7% yesterday.
Another major US index is of course the NASDAQ, which is heavily weighted towards tech and healthcare companies, both of which have performed well during the COVID-19 pandemic.

As a result, this index set a new record high yesterday, and the 76-day return to a record high is the second fastest rebound on record (a new high in a new bull market), after the 65 days ending on April 9, 2009.

After all the downs and ups of the past few weeks, I am now back within 0.25% of my all-time high set on February 19th.  

Who needs baseball! 

No comments: