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The Trump boom was alive and well in early 2018, as were calls for Dow 30,000.
In fact, many believed such a milestone could be met thanks to tax reform.
Ever since the passage of massive tax cuts, companies in the U.S. have already announced $171 billion worth of stock buybacks in early 2018. That was a record-high and more than double the $76 billion that corporate America saw for most of 2017, according to CNN.
Apparently, Donald Trump has the Midas touch.
Infrastructure cement, cyber security and even defense stocks have been solid proof.
For example, in mid-2017, nearly all defense stocks rallied after the President inked a weapons deal with the Saudis worth nearly $350 billion over the next decade.
Since June 2017, oil prices rocketed from a low of $42.05 to a high of $64.30 in early 2018.
At the time, that was the highest crude oil prices had been since May 2015 thanks in part to OPEC production cuts. We were also seeing strong demand growth in China, too.
It’s the reason Exxon Mobil (XOM) jumped from a 2017 low of $75 to $87.50. Chevron (CVX) ran from $101 to $133.60. Conoco Phillips (COP) exploded from $42 to $60.
Sometimes, the greatest opportunities are hiding in plain sight.
Yet, they’re ignored, or “left for dead” out of fear that a sector may be too speculative. Biotech and pharmaceutical stocks are the perfect examples. But only the foolish have ignored the rewards the sector has produced -- and will produce.