Bed And Breakfast Delight:

Remember the old adage, “stocks don’t lie, people do”. What this is referring to in my opinion is that PRICE action is omnipotent and often knows a lot more than we do. The way some of the travel-related stocks, and the old word that I can barely stand in “reopening”, are acting suggests this latest variant is going to be contained. EXPE jumped 15% last week, UBER has risen by a combined 19% the last fortnight. CCL rose 16% last week. Some of these names are still well off their 52-week highs, but the fact that discretionary is coming back into vogue is a good sign for the markets overall. Last week the XLY was the strongest of the 11 major S&P sectors rising 4%. Below is a name in the travel services group in ABNB. Like a lot of other wounded consumer names, it trades in bear market mode 22% off its peak in February. I think this name will outperform in 2022. Stay constructive as long as it remains above its 200 day SMA.

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