Strategic Investor, page-48

Very breif summary of the state of play as im seeing it...
Wall Street closed lower Friday but still notched big gains for the week as investors held out hope that a $2 trillion rescue package will cushion businesses and households from the economic devastation being caused by the coronavirus.

Stocks had soared over the previous three days as the relief bill moved closer to becoming law. It passed the House Friday afternoon and Trump signed it later in the day. Despite the help, analysts expect markets to remain turbulent until the outbreak begins to wane. This is what most investors would be waiting for....

Even after the rally this week U.S market is still down 25% from the peak it reached a month ago. At this point investors need getting a handle on the spread of the virus so that then we can start to think about what economic growth looks like for the remainder of this year.

Investors have yet to get a clear picture of exactly how badly the crisis has hurt corporate profits, the ultimate driver of stock prices.
Very few companies have issued forecasts capturing the damage, though traders would be toe tapping waiting for discouraging results in the next few weeks as earnings reporting season begins. Many companies have simply withdrawn their profit forecasts altogether...
Even current forecasts may not yet reflect the size of the potential earnings declines this year, with only 15% of analysts having adjusted their estimates within the past couple of weeks, according to a report by credit swiss...

The price of crude oil slid 4.8% to close at $21.51 a barrel. Goldman Sachs has forecast that it will fall well below $20 a barrel in the next two months because storage will be filled to the brim and wells will have to be shut in.
That's sure to cause even more trouble for energy companies, which are lagging far behind the rest of the market. The price of oil has plunged recently, in part due to a price war that broke out early this month between Saudi Arabia and Russia.
The energy sector of the S&P 500 has lost half its value this year.

The yield on the 10-year U.S Treasury fell to 0.68% from 0.81% late Thursday. Lower yields reflect dimmer expectations for economic growth and greater demand for low-risk assets.
The overall downturn in the markets in recent weeks is creating good opportunities for investors to buy into sectors of the market that will be prevalent for the next decade, including e-commerce and technology companies that focus on things like gene therapies, etc...short to medium term, with the price phisical gold as a lead indicator , would suggest gold the best game intown...i am biased however..

The strong rallies this week have prompted some analysts to suggest the worst of the selling could be over. But most expect stocks to touch on recent lows again until there have been enough sustained gains in the market, and progress in fighting the pandemic, to ease investors' fear of further declines.
Some commentators think the first and worst phase has hit.I feel more hits of pain are just a headline and or depression away. There is a very good chance of revisiting recent lows.

In this still panic soaked environment i'd be treading carefully, constantly monitoring my investments and economic climate. Revising and updating my short list is a must.
Good luck and good health to all....