Some stocks just don't want to go down. Last weekend we read a piece about Chipotle (CMG) in Barron's that basically laid out a powerful bear case -- so negative as to make you feel that it sells toxic burritos.
The stock got crushed after what was a comeback quarter, the first I have heard. I have said endlessly that it takes 18 months to get people to forget what happened -- the various illnesses -- because that's how long it took with Taco Bell and Jack in the Box (JACK) when they had even worse incidents occur.
Look at that stock.
Just won't quit.
Alaska Air (ALK) won't quit. It ran into the quarter and now its running again.
Same with Allergan (AGN) , which had run 50 points pretty much in a straight line.
Plus, we know that Nvidia (NVDA) , Facebook (FB) , Advanced Micro Devices (AMD) and Action Alerts PLUS charity portfolio holding Apple (AAPL) have been hanging in, biding time at new higher levels before what I believe will be a further power up.
I just point these out because none of these is a Trump stock. All have "stories" that make them compelling: Apple, Facebook and Allergan are cheap on the basis of 2017 and 2018 numbers. Nvidia has the most momentum of all stocks in the market, and AMD has the best turnaround going.
To me these are all real stories, and need to be focused on.