The S&P 500 jumped higher at the open on news from central banks in China and Europe regarding additional stimulus actions. Unfortunately, the market lost most of its ground as stocks faded into the close, but still managed a gain of 0.50% to close at 2,063. This fifth consecutive weekly gain has lured some investors to think it’s like the film Groundhog Day, where they watch similar chart trends, week after week.
Daily Positive: Looks like the pump and dump crowd is out of ammo for now.
Daily Negative: Lousy Friday trading volume. The volume is so low today it is like we are standing alone in an empty room.
In good news for the medical side, Reps. Earl Blumenauer, D-Ore., and Dana Rohrabacher, R-Calif., are working with 10 bipartisan cosponsors, aiming to “lift a ban on VA doctors giving opinions or recommendations about medical marijuana to veterans.” There are many indications that medical marijuana is helpful in working with people such as veterans who deal with PTSD.
We have been big believers in the ability for access to medical marijuana for veterans and are glad to see the political winds blowing in this direction. Many times it feels that investing and “doing good” are on opposite ends of the spectrum, but in this industry, investing can lead to growth of capital and improvements in society.