Eyes on Vaccine

November 9, 2020
November 9, 2020 Ryan

Eyes on Vaccine

The market went bonkers today, but all is not well… yet.

Pfizer reported results from their Covid-19 vaccine trials earlier today and they looks good – very good.  This triggered huge buying in everything related to a reopening economy.  Understandably, the best performing stocks over the last six months gave back some of their recent gains.  Basically, everything happened as expected.  But, it’s time to be careful.   We still don’t have a vaccine and covid is running wild.  The next few months could still bring significant economic damage.

Despite all of the insanity today, I didn’t do much with my positions.  I did add a FEW – only a few – of my favorite reopening stocks.  I’ll probably get a chance to add even more lower before they resume their move back up (next year, in my opinion).  Here are the few I added:

  • PTON – not a reopen trade, but I like it on pullbacks.
  • CAKE – this may be a year out from paying off – long-term hold for me.
  • WYNN – same as CAKE. This is NOT a short term trade.
  • HBAN – I like regionals, but they may pullback throughout the week.  Long-term hold.
  • BA – looking for big moves in 2021.

I did NOT sell TDOC, DOCU, CHWY and others that have paid so well over the last few months.  I’m not convinced they are suddenly bad companies and I’m watching for a rebound over the next two months because, again, we could enter a bad period before life gets good.

Stay nimble and don’t over think it.  Stay in the game and set stops if your worried about your liquidity or if trade on short-term time frames.


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