Several news sources are reporting the stimulus talks seem to be in question for anything to come by election day, Nov 3. This on and off again stimulus game is getting silly with neither party wanting blame and ready to point fingers at each other. I have been doubtful of an actual agreement before the election decision because of differences on how and where to apply stimulus. The repubs want it to go the the citizens and businesses in need and the dems want it to go the Democratic "tax and spend" States that want to bail out their highly indebted State balance sheets to further tax and spend. I continue a cautious mode with regards to the market. However, I try to find opportunity even in a choppy market.
The C19 Pandemic is not going away. Cases are re-surging in many areas of the country and the world.
Stock Talk
Yes, the C19 cases are re-surging in some areas the case numbers are tripling with more hospital cases. We have seen and experienced that 2nd tier small cap stocks that are working on bringing vaccines or antibody treatments have had quite a volatile ride and are heavily sold short as well. Anybody in stocks like Inovio or Sorrento that seem to have serious potential knows it has been a rocky path. For me as well. With the FDA hold on Inovio's DNA vaccine candidate INO4800 and Sorrento's apparenly "Imminent" but stalled C19 hospital patients getting STI 1499 antibody under FDA cleared Phase 1 testing- the share price has tumbled in each. I partially "surrender" in hope. note word partially. I am not completely counting the two stocks out.
Yes, I traded some straight up shares. But a few call options with a Dec18 strike of 17 for INO and Dec 18 strike of 12 for SRNE on pure speculation that Inovio may restart Phase 2/3 of the vaccine and Sorrento may get some positive buzz (or C19 funding) on their antibody candidates by then in recovering C19 patients. These are dicey gambles and with a few bucks in some, yes, have to be prepared to time out worthless. But if INO and SRNE start delivering expectations in November, watch out. Yes , I have fomo and that's the way I roll in "some".
Other stocks to watch (for me):
- Straight up some AUY , Yamana gold and silver miner.
- a small position in General Motors (GM), coming on busting moves in the ev space.
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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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