Research.LeutholdGroup

The Bull Is Dead, But The Leaders Live On

The bull market of 2009-2020 is no longer. But its spirit—its leadership—has somehow lingered, right through the worst of the decline and during the eleven-day, +19% S&P 500 bounce that followed. For those who must remain fully invested, the best way to have played the corona-collapse was to have come into it holding the “trendiest” and most expensive stocks the market had to offer—and then doing nothing! “QQQ” has been the perfect vehicle in that regard, but anything “Large” and “Growth-y” has sufficed.