Tobacco “On Fire” this week- “Smoke ‘Em, if you Got ‘Em”

Key Takeaways

  • Thursday-Friday decline has stripped away benefits of Tuesday-Wednesday’s bounce. Near-term US equity trend remains negative, but downside risk/reward looks poor, and markets likely bottom out sometime next week
  • Tobacco’s strength has helped this sub-sector outperform all other S&P GICS Level 3 groups this past week, higher by more than 5%.  MO, PM analyzed in this report

This week’s selloff looks to b...

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