Art Hogan, chief market strategist at National Securities, said investors like big round numbers. "It's the knowledge that investors are doing well. It's not just on the front page of the. It goes from Wall Street to Main Street. This is something that shows up on everybody's radar. This shines a bigger light on it," he said.
Since the beginning of the month, energy is up more than 37% and financials are up 19.4%. Industrials are up more than 18%, while technology has gained a relatively muted 9.4%. "I think you could ultimately see a reversion back to the growth stocks that have been driving a lot of the success because they've been driving a lot of the earnings," said Golub. "There are two sectors that have not participated in the upside over the last six months that are likely to do well in 2021. They are financials and health care. They are the two least expensive groups relative to the way they normally trade in the market.
Well done President Trump.
You mean 30,000 could draw some really dumb investors who will be buying at the top?
GOLD
Momentum can be self-perpetuating.