America’s Got Oomph

(1) Oomph lost and found. (2) Bearish cover stories are bullish contrary indicators. (3) Secular bears turning into secular bulls may be bearish contrary indicators. (4) Parker sees 3000 on S&P 500 by 2020 if there’s no recession along the way. (5) First-term presidents tend to get first-year recessions…like in 2017. (6) Secular pessimists worrying about slowdown in labor force growth. (7) Productivity has upside. (8) Manufacturing renaissance showing up in recent M-PMI, capital goods orders, and factory construction. (9) Focus on overweight-rated S&P 500 Financials.