Market Talk
Today, the stock markets are near all time highs. There are lot's of reasons ranging from rational to irrationality. I feel the need to point this out because the Presidential election is just 62 days away. I will not go into a political discourse of my own views. Except it is possible that a sea change is coming if the democrats take control. And such change may well affect the stock market in a negative or corrective way. This makes me somewhat tempered with regards to stocks at all time highs. There is one thing I have learned about the market and stocks - something always happens.
With the above prelude, I will now venture some quick takes on a few stocks I am watching.
Stock Talk
Inovio: I watch this stock, we all know that. Partly because I remain gobsmacked that the Operation Warp Speed (ows) team has not yet embraced Inovio's INO4800 Covid 19 vaccine . I have posted here about what seem like some serious advantages INO4800 over some of the others that have been given priority and Billion dollar funding.
Yes, the DOD has selected Inovio's cellectra devices for administering vaccines and has arranged for their private vaccine manufacturer to work with Inovio. But the $71 Million buy in for Cellectras pales in the face of billions to others. To the market, it all seems like secret deals with vague reference to Inovio. Where as the other Pharma have pounded tables on attributes, gained funding and are already advancing in Phase 3 clinical trials. Meanwhile Inovio awaits on a "peer review" of Phase 1 preliminary results. I have posted my view of how I believe INO4800 works in a safe and effective way from what I can glean from reports.
As the market has slammed the stock from the 33 range back to the 11ish range as of this post, it sure has taken a beating. Will Inovio be over taken by events (obe) or will it rise from the ashes like the Phoenix? It all depends. In the meantime, Inovio longs are suffering. Others are looking at it thinking of taking a position. At present, INO seems like a conundrum stock that may yet be a phoenix. It may also be a waiting on Godot situation and could be obe. "It all depends." and "something always happens". That's a way of saying "beats me".
Gold mining stocks
With the current events of the world, I have been buying a few shares of Yamana Gold (AUY) in the 6 ish range. I should note that Gold and silver are already at traditional highs and these metals may be peaking. However, gold and silver enthusiasts believe that paper money will lose to inflation. As far as the US dollar goes, I am not completely convinced even with all the trillions spent to prevent a depression. Why you may ask? Well, what about the trillions spent on war in the middle east? The US dollar survived on the faith of the US government and the God we trust.
I was looking at Barrick Gold mining stock (GOLD) as I hear Warren Buffet recently took on a big stake. However, as I am looking I see a news item that Barrick Gold is losing rights to mining a 600,000 ounce per year gold mine in Papua New Guinea. I don't see how that can be a good thing for Barrick mining. This points out a risk in gold mining stocks in general that mine is various parts of the world. This is something to watch.
Two Recent Strong movers:
Apple (APPL) Stock continues it's run after the split. Many say after a stock splits it may correct for awhile after the buzz fades. I bought a few shares of Apple before the 4 for 1 split. I emphasize just a few said the peasant.
Walmart (WMT) Today's news of a $98 a year subscription and free delivery service to compete with Amazon. WMT is surging ahead around $147 a share today. It seems that Walmart has solidified it's position in this Corona world and may be stepping up to the challenges that Amazon presents.
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ALL in my humble opinion, scroll down and read more..
This site does NOT make Buy / Sell recommendations.
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