The Oversold Bounce

Hilary Kramer

Hilary Kramer is an investment analyst and portfolio manager with 30 years of experience on Wall Street.

Volatility can be our friend, as well as a drag. This week, Big Cannabis had what it took to outperform the S&P 500, thanks to a basic rule of market physics.

Stocks like Aurora Cannabis Inc. (NYSE:ACB) plunged to statistically improbable levels in recent weeks, but statistics is a field where exaggerated moves in either direction always correct sooner or later.

That’s what happened this week. Canopy Growth Corp. (NYSE:CGC) and Tilray Corp. (NASDAQ:TLRY) joined the rally as well.

The fundamentals for the group didn’t change much. Only the charts stretched too far to the downside. Now that they’re snapping back, I’m eager to see how far the rally goes.

After all, every bull run starts with a bump. Some stop there. But when a stock really gets rallying, we can all cheer.

Either way, my subscribers in IPO Edge don’t buy the majors or trade for instant gratification. We’re in small names for a holding period that can be measured in months, not minutes.

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We talked a little last week about the post-pandemic sector map and how Big Tech needs time to refresh, while brick-and-mortar stocks risk getting ahead of themselves.

Now, let’s focus on an area of the market that deserves to lead Wall Street from here. The COVID-19 outbreak was only a fleeting interruption for materials-producing companies. From chemicals to mining, commodity stocks are tracking 28% higher earnings

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Hilary Kramer

Hilary Kramer is an investment analyst and portfolio manager with 30 years of experience on Wall Street. Since 2010, Hilary's financial publications have provided stock analysis and investment advice to her subscribers:

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