This is what happens when the deep state wins.
We have a COVID-19 vaccine on two fronts today — Pfizer and also Moderna. Pfizer is actually ready to deploy by next month!
Wunderbar!
Also, since The Era of Joe is beginning, look for a major stimulus package to pass the house — and it will save everybody. We are looking at BACK TO NORMAL stocks in the real estate, airlines, and hospitality sectors up more than 20% today. Hawaiian Air is up 50%. No big deal.
On the other end of the spectrum, social distancing stocks are getting stormed, thrashed lower by 8%.
OSTK, ETSY, PTON, ZM, DOCU — all lower by 20%. Also, not a big deal. This is totally normal pin action.
The Dow is +1,200 points and most of the online brokerages have fucked the fuck down, reported outages whereby plebs are LOCKED IN, forced to bear witness to either carnage or euphoria.
Also, as a side addendum, WTI is higher by 10%, gold is -4%, and the US 10yr is +11bps to 0.93%.
In other words, we are back to normal again. Who knew all we needed to cure COVID-19 was a nice democratic election!
I moved to 100% cash, down 220bps for the session. I have since bought 6 stocks for trades. Also, my long term portfolio is down 500bps and my Quant is down 280bps, so this feeeeeeeels like a down day to me, especially since I was positioned in stocks doing well now, not so much Feb of 2020.
UPDATE: My Quant is now down 1% and LT down 2.3%. Things are broadening.
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