One of our newbies is about to get added to the S&P 500
September 8, 2024
I highlighted the two stocks in the chart below in my Levitated by Lunacy report on September 2…
They both immediately fell, but then it was announced that one of them, Erie Indemnity $ERIE, was joining the S&P 500 on Monday, September 23...
If you haven’t guessed, Erie is the red line in the above and below charts.
The irony… based on all available facts, Erie’s stock is more vulnerable to coming undone than the other company’s. That story, in its simplest form, can be seen in the three-year chart below...
It’s also the most obvious of the two to see a sharp reversal in momentum.
But there’s so much more to the story than that. And it’s not really that complicated. If you need a refresher, as I laid out in my piece, summarized below...
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