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Sunday Watchlist

Week of March 30, 2020

Optimism returned to the markets.

In just days, the Dow Jones regained  a bit more than 4,000 points for economic relief from Congress. Unfortunately, optimism gave way to a 1,000-point decline on Friday, as the number of global cases continues to explode higher.  As of Friday morning, the number of global cases was up to 551,337 with 24,906 unfortunate deaths.

The U.S. topped the list of infected people with 86,012.  China is up to 81,897. Italy is up to 80,589 with Spain up to 64,059.  While many people are working very hard, including a good deal of medical staff, until we see the curve flatten and decline, fear will persist.

Outside of the virus story, oil just plummeted to $21.66.  All thanks to headlines from Saudi Arabia that there are still no talks with Russia regarding oil prices.  “There have been no contacts between Saudi Arabia and Russia energy ministers over any increase in the number of OPEC countries, nor any discussion of a joint agreement to balance oil markets,” the Saudi Ministry of Energy said, as quoted by Zero Hedge.

While the near-term will be chaotic, there are still plenty of long-term opportunities to own.

Opportunity No. 1

Clorox Co. (CLX)

While expensive at $175 a share, Clorox is one of the top stocks running on the coronavirus outbreak.  All as people around the world rush out to buy cleaning supplies to help keep themselves protected from the virus. Whether it’s wipes, sanitizers, or bleach, retailers around the country are struggling to keep supply on shelves.

Opportunity No. 2

Apple (AAPL)

Apple is a long-term buy and hold opportunity.  Oppenheimer says their long-term view is the same, with a target of $320.  The firm expects the stock to recover by the fourth quarter of 2020. “Our long-term thesis on Apple and PT of $320 are unchanged. We expect demand for Apple devices to recover starting by F4Q20 and iPhone to enter a stronger replacement cycle for FY21. Meanwhile, its substantial balance sheet and excellent financial health create a substantial competitive advantage and a wider margin of safety for investors in uncertain times,” they said, as quoted by 9 to 5 Mac.

Opportunity No. 3

Teledoc Health (TDOC)

Over the last few weeks, shares of TDOC have exploded from $110 to more than $170.  All thanks to higher demand for telemedicine. It even got a boost from President Trump who has touted the importance of telehealth in the fight against the virus, and to help prevent people from leaving their homes, and overcrowding hospitals.