Amidst the array of stocks I bought yesterday, mixed in with the rest, was AFRM. They reported earnings and smashed the shorts faces to pieces. Because of that and the opening bump, I sold all and am +2.1% for the session. I am 90% cash now and EXTREMELY hesitant to get back in — because for one I have been trading poorly and two the market looks like absolute shit.
Can it turn around?
Maybe. But for now the small caps are getting nothing but knives to the face and the big caps are led up by commodity related names. This isn’t exactly an accommodative tape, not to mention the crypto markets are being sacked.
We have many things to discuss and I am sure what everyone wants to discuss is the vaccine and who stands to benefit. Obviously the big winners are MRNA and BNTX — but there are others likely to play too — such as NVAX and VIR. There is bound to be more and I am certain the world is looking forward to more drugs and methods of control in order to feeeeeeeeeeel safer and make us all privy to fine things like travel (OMG!) and yummy exotic foods in far away and distant countries. We all just cannot wait to consume and travel by cruise ships, packed tightly amongst one another — fully vaccinated and boosted and masked — because endemics are fun and also profitable to trade.
On a much more somber note, COVID deaths and cases are up triple digits YOY. There is no way in hell our hospitals can withstand this many patients during peak flu season, so buckle up and get ready for renewed lock downs.If you enjoy the content at iBankCoin, please follow us on Twitter