Risk On. No deal, for now, on stimulus candy from the Democrats or Republicans. Nancy and the Dems want to use C19 as an excuse to bail out all the blue states that have tax and spent their states like California and New Jersey into a Greece like state of debt. The democrat blue states want to tax everything from plastic bags and straws to death taxes and the air the people breathe.
Trump's treasury secretary, Steve Mnuchin, says no stimulus deal till after the election. It seems like a hunker down mode is warranted. So far this year, every time the market starts tanking, the two parties start talking nicer like a deal is near. However, all bets are off this time. Are they bluffing or playing hard ball until the election decides for them? Each side wants to blame the other side for a poor economy.
Meanwhile, the C19 virus is picking up everywhere. Virus control is losing ground with more vaccine candidates being put on hold.
Stock Talk
With the above market talk, it remains uncertain as to whether stimulus is coming before the election. Today, it seems unlikely. For people that may fear a market turn down and feel a need to hedge their long stocks, there are etf's that are bull and bear on the market indexes or specific sectors like energy and financials. Some are Ultra ETF's on the bear side. I will not mention specific ones or recommend these because they can change on a dime and are similar to gambling. That said, when times happen where it seems like a severe downtrend may be coming, they can feel like a hedge to save some loss in a bear market.
Hey now, did I just hear on CNBC that Sorrento (SNRE) will be highlighted on the Jim Cramer mad $ show tonight? I indicated just yesterday that SRNE conference call may have lacked the style that shallow robinhood type traders cling to like suckling babies. But I go with FACTS.
The facts that I was looking for were presented, plus several bonus features. Their antibiotic STI 1499 is on track to be a one or two shot of hope for hospitalized patients suffering from C19. The C19 virus is surging again in hospitals all around the globe. I am staying in some SRNE and Inovio (INO) until I see a reason not to.
Speaking of Inovio (INO) , the previously touted "leaders" in the C19 vaccine front like Astra/ Oxford and Johnson front are fledgling with FDA holds and serious AE's. Meanwhile the hold on Inovio's INO4800 was on questions on the INO Cellectra device that has been used in many trials and proven effective enough to pass muster in their MERS vaccine INO4700 to gain EUA approval in S. Korea. The DoD had enough confidence in Cellectra to order $71 Million for the military. Hmmmmm. Something does not quite add up with the FDA hold and many are pointing to bad politics within the FDA and Big Pharma alliances. I am in some INO to see if they can overcome the bad juju of that unexpected FDA hold and get back on Phase 2/3 track. Meanwhile, are the INO4800 trials continuing in Australia, S. Korea and China? I am looking for the FDA hold on INO4800 to be lifted and a resumption could reignite investor enthusiasm on INO shares - and, the real enchilada is the Cancer pipeline of Inovio.
"Some" stocks for me at this time:
INOVIO (INO)
Sorrento (SRNE)
Yamana Gold (AUY)
Dry powder (cash) and an unnamed bear "some " hedge in case the markets tank again.
Staying tuned to change, it happens all the time!
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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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