Two things that always come to mind when I think of March are St. Patrick’s Day and March Madness. March is always a weird month as it’s a transition from Winter to Spring and these two events are the pipeline that get us through to the other side. While it was sad to see Rockaway’s St. Pats parade was cancelled, it was great to see the tradition continued by Mark Edwards & AOH division 21! It is nice to see local businesses start to reopen and I am sure everyone will be looking forward to celebrating St. Patrick’s Day.
What has been rocking this month is College Hoops! Watching the Big East and other conference tournaments brought back a feeling of normalcy, even with fans being minimal, there was still lots of action on the court.
My beloved Saint John’s came up short in OT in their first game against dreaded Seton Hall. Shoutout to my mom, my sister and my cousins who are St. John’s alumni. St John’s basketball program continues to improve and has become fun to watch again. Their roster looks promising for next year which I guess is some consolation to a disappointing performance in the Big East Tournament.
Also the #1 powerhouse Villanova Wildcats and their diehard fans were stunned with an upset by Georgetown who is coached by Patrick Ewing, and ended up going on to win the BET. Ewing gets another Big East championship at MSG, his first one since he was a player in 1984! If the conference tournaments were a preview of what the NCAA tournament will bring then this will hopefully be a March to remember, as last year was definitely a March to forget!
Okay enough Rockin, let’s get down to Stockin. U.S. stock markets reached new all-time highs in February and then faded due to rising bond yields. The S&P 500 is now up 13.1% since the election. To put in relative terms if you invested $1,000 in Nov 21st in the S&P 500 that would be worth $1,131 today. Oil reached a new 52 week high, and an oil trader I know said he thinks fas prices could hit $4 a gallon this Summer. Ouch!
Bitcoin and cryptos also continue to make a lot of noise as the digital asset has crossed 60K recently, meanwhile Gold hit an 8 month low. Many ask what is Bitcoin, and the simplest way I can describe it is that it is a digital currency which is extremely volatile and can decline just as sharp as it rises so buyer beware.
With Covid restrictions miraculously lightening up and a new round of stimulus checks I would not be surprised to see the markets keep advancing for a bit and then as they say “Sell in May Go and Away” which is a theory which says NOV-APR has stronger growth so May is a good time to take profits. There have been a few days here and there which were huge sell-offs, and as I stated previously, those are days which create buying opportunities to initiate or add to your existing positions.
No one I know ever became wealthy from stashing their money in a savings account. It’s about as useful as a piggy bank. So stop saving and start investing!
By JP STATHIS
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