was touching new intraday highs last week Monday, another historic record was breaking beneath the surface.
Although these two headlines brought investors some much-needed relief, one strategist says the news has amped up a sense of complacency about what happens to the market next. "While more difficult to see, since part of the bearish view is based on the rapid rise in COVID cases, expect WFH stocks to underperform," Tchir said. He added: "Positioning is extreme and you can only buy so many exercise bikes or do so much online, and the hope of a vaccine will also play a factor."
Until these all-important races are finalized, Tchir says investors will find it challenging to make big bets on the basis of additional stimulus.
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