Ho-Hum! Another All-Time High - S&P Up 29% in 7 Months

Excerpt from Louis Navellier's Marketmail - 7/30/2019

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The S&P reached another all-time high last Friday, up over 29% in the seven months since its December 26 intra-day lows. NASDAQ is up over 34% in the same time frame. I was especially surprised to see the lack of a significant correction after the announcements last week that the Justice Department has opened an antitrust probe into whether some dominant technology companies are unlawfully stifling competition.

Specifically, giant tech companies Google and Facebook are expected to be under tremendous scrutiny for years to come, while Amazon.com and Apple could also be swept up into an antitrust investigation.

Navellier & Associates owns AMZN, AAPL, and FB in a few managed accounts for clients but does not own google in managed accounts. Navellier & Associates does not own AMZN, AAPL, FB, or GOOGL in our sub-advised mutual fund. Louis Navellier and his family own AAPL and AMZN in personal accounts but do not own FB or Google.

I should add that we are in the peak week for second-quarter earnings announcements, which are largely coming in better than analysts expected. Although the breadth and power under the stock market has been excellent, the stock market is also getting ‘overbought’ near-term, so some profit-taking is expected.

In This Issue:

Bryan Perry sees good reasons for higher highs later this year, but we’ll likely endure some August doldrums first. Gary Alexander advises looking beyond the current (flat) earnings season to the more positive longer-term trends. After all, that’s what the market usually does. Ivan Martchev questions how soon this mini-trade-war could turn into an economy-strangling “real” trade war, like those of old. Jason Bodner asks and answers a key market question: How can we beat the market, consistently? Then I’ll return to look at some new concerns in Europe and the recent breakdown in Tesla’s business plan.

Income Mail: Expect Some Sizzle to Come Off the Summer Rally

By Bryan Perry

Stock Selection is at a Rising Premium

Growth Mail: Raise Your Eyes Above the Quarterly Horizon, Please!

By Gary Alexander

What about Those High P/E Ratios?

Global Mail: How Trade Wars Act like Mini Hot Wars

By Ivan Martchev

Smoot-Hawley Was a Big Factor in the Great Depression

Sector Spotlight: How Do I Make Market-Beating Money on Stocks?

By Jason Bodner

On Becoming a “Zombie Investor”

A Look Ahead: The ECB is “Driving the Bus” and the Fed is Following Their Lead

By Louis Navellier

Tesla Was a Major Disappointment Last Week