, as COVID-19 cases rose and stocks dropped because of fears that the federal government wouldn't deliver any more economic support.no more economic relief negotiationsNow Wilson says it's almost time for a "rates scare," a round of concerns about rising interest rates that would also lead to widespread selling and put a target on the back of the stock market's leaders. It's creating a familiar dynamic in markets.
Wilson estimates that the S&P 500 index will trade in a wide range between 3,100, or 9% below current levels, and 3,550 until those two sources of confusion are worked out. Buy recovery stocks "Focus on the recovery stocks even during this growth scare as that is where the upside is greatest," he said. "A move higher in rates should only support this view as most recovery stocks are positively correlated with such a move."
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