(11-09-2020, 11:10 AM)kblake Wrote:(11-09-2020, 11:04 AM)fenders53 Wrote: Crazy day. Sold a lot of covered calls on boring stocks that have been running. I've been trimming and would love to go shopping but I'm not seeing any black Friday sales.
Stockguru, probably a good move on the PFE IMO. It's one of my larger positions and I have covered calls expiring most weeks for awhile now. My original thought was they will have too much competition in the end. 90% efficacy with 43,000 trial patients far exceeds what I thought they might achieve. It should pay the 2021 utility bill anyway.
Everything was a sell today but the tech stocks that were sold off way too much. I don't even think it was a rotation going on. Just shorts covering, and now shorting again. I trimmed a lot of the defense stocks and other sectors than ran up today. I understand the market looks ahead, but you need binoculars now how far they need to see
Those moves wont hold. You can bet on that lol
PFE vaccine wont even put a dent into earnings lol
It won't unless it is notably better than the other offerings which seems possible today. The original 50% efficacy goal doesn't look so attractive now. I don't think any of them will gouge the US in this political environment but there are a lot of people in the world. I suspect other first world nations will have to pay up a little. PFE price makes a helluva more sense than most of my port today.
This may be my best week ever. It's sure up there and there is little justification for it.This was further a rotation to industrials and even to value IMO They've been running very strong for awhile now. It won't last though as they are now overpriced vs economic reality. Soon enough the market will run back to the fun stocks with make believe earnings for years to come. They look cheap when they pull back 20%. They aren't but you gotta do what's working if you are going to trade rather than invest.