The irony of Putin first to market with a COVI-19 vaccine is rich with humor. Over the past few hours, just about every medical expert on the west trashed it — sounding more like VAXXERS than people who want to actually see a vaccine for COVID-19 come to fruition. The level of butt-hurt, seeing the evil Russians invent one first, is on a monumental scale.
But because of this, in spite of the fact that ZERO people will take it, stocks are steaming ahead. It wasn’t like that earlier, with the Nasdaq lower by more than 100. Since then, that ugliness has been erased and now everything is up. The theme is normalization, with airlines, cruise ships, credit card companies and the likes roaring ahead.
More interesting is the SPIKE in rates — the 10yr up to 0.65% and there utter COLLAPSE in silver — off by 10%. Gone are the days of risk off. We are now pricing in +10% GDP and FULL employment.
Restaurant stocks are gapping higher and just about anything consumer facing. Nothing can stop the optimism, unless of course you look at the grim stats and come to realize that many of the 55 million Americans will be PERMANENTLY unemployed.
We’ve adapted to the personless COVID-19 world quite well, automating just about everything. We do not need employees, but more robots.
My trading has been light, but flawless today.
I’m now 75% cash, waiting for the lull of the afternoon to pass, in order to execute a few more transactions in the hopes those trades will pay for my country club initiation fees for my new tennis obsession. I will have you know, I am progressing quite well and all of the mechanics are coming into place. I will be a tennis pro inside 6 months.If you enjoy the content at iBankCoin, please follow us on Twitter