After a seven-week series of wins, we suffered a small LOSS of 0.40% in the past week. Nevertheless, there remains a yield of 41% since the beginning of the year! In comparison, the S & P500 has lost just over 13% since the beginning of the year.
OIL is the weekly winner with over 25.00%. On the other hand, the gold price declined 1.84%.
It appears that market participants are now struggling to get their bearings after the low in March and an impressive gain of around 27% in April. The Fed has cut interest rates to zero, the US government is raining money on consumers, and in parallel, the US government is helping citizens and entrepreneurs financially. On the other hand, unemployment is rising rapidly and a wave of bankruptcies is expected. Under these circumstances, May will be an exciting month.
As we enter the equity markets in a generally weak phase of the year, many may prefer to wait on the sidelines for further developments due to the additional recessive mood in the economy.