The great Friday retreat

Hey everybody and happy Friday afternoon, After the Nasdaq and S&P closed yesterday with new highs, the market closed the week with a retreat today.  The pull-back could be due to new concerns of whether the third stimulus package would be passed as quickly as previously thought, and new virus woes felt throughout the nation. President Biden has signed executive orders this week aiming at making vaccine distribution quicker and more efficient, however, the third stimulus package is already receiving criticism from some law-makers over its hefty price tag.  The markets are making their thoughts on matters known. The silver lining is knowing how and where to look for direction. Last night, Markay hosted her second installation of Candlestick Kickoff. In this awesome free class, she tells you how to prepare today for what the market will do tomorrow. If you missed it, you can catch it for a limited time by [clicking here.]( Jobless Claims One reason for today’s draw-back in the market could be due to the release of jobless claims yesterday. This week marks the 44th straight week that US jobless claims are higher than that of the great recession in 2008. We did a deep dive into the numbers [in this article on our website.]( Oh, Boy… Have you ever had one of those days when nothing goes your way? It happens to the best of us, even our own Rob Booker. [Check out this video]( where Rob explains what he does on days that everything goes wrong. And if you’re looking for something to keep you entertained and informed over the weekend, don’t forget to [subscribe to Rob’s YouTube Channel](. Fielmann Exceeds Its Own Expectations Dear Investor, January was barely half over when one company was already presenting preliminary figures for last year. And what figures they were! Fielmann AG, according to their early numbers, was able to surpass their predictions for 2020—predictions they'd already raised in September—and all of this despite massive restrictions from the pandemic. Better than expected In 2020, Fielmann's revenue reached around 1.425 billion euros, 6.3% less than in 2019, when this eyeglasses company from Hamburg reported 1.521 billion euros in revenue. According to preliminary estimates, they saw a reduction to €170 million from €254 million last year in profits before taxes. But this was more than CEO Marc Fielmann was expecting in the fall. Back then, he forecast that the value would be €140 million. So it could have been significantly worse. According to one company spokesperson, they were able to sell more expensive—and therefore high-margin—progressive lenses this year. It seems their profitable business in hearing aids also exceeded expectations, and the measures they took on the operative side are clearly working. With appointment scheduling and their new digital time management system, they were able to minimize waiting times at local branches. Now present in 15 European countries I'm sure it also helped that they were able to broaden their presence in Europe. At the end of the year, Fielmann had 870 branches, compared to 776 in 2019. This has less to do with new openings and more to do with the fact that, on December 31st, they took over the 80 branches of Óptica & Audiología Universitaria, the third-largest glasses chain in Spain. Their 400,000 glasses sold per year and 100-million-euro revenue with be a boost to the Fielmann Group in the coming year. It's no wonder that their stock is reacting positively on the SDAX. After the preliminary figures were released, the security rose to above €69, just below their all-time peak of €76 in 2017. The lockdown is partially to blame for the fact that investors haven't been as jubilant as could be expected. It's true that opticians, like grocers, are considered essential, and their stores mostly remain open. But fewer customers are coming by. Stores in shopping malls have been hit particularly hard. Stocks moving sideways There's also the fact that Fielmann stock has been stuck between 58 and 70 euros since the second quarter of 2020, and it doesn't seem likely to break out of this range at such short notice. Based on profit estimates for the current year, Fielmann stock is being traded at a P/E ratio of 33. This is a high ratio, and not just for Fielmann. It could only be justified by further strong growth at the company. And there's no indication that that will happen. With that, I'd like to wish you a nice day.  Sincerely, Dr. Gregor Bauer Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. 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