- Sent to members of Investors Edge at 4:52 Pacific Standard Time this morning.
- Just FYI.
Dec. 21, 2020 7:52 AM ET
Despite the scare headlines and Futures down 500 we really know nothing about the "new strain" of COVID.
We know that viruses evolve all the time, but...
...we also know that medical researchers change vaccine compositions in order to defend against the new virus strains.
Though it doesn't look as if this will be necessary for this new variation.
About the markets:
KEEP CALM AND CARRY ON --
We also have known all along what kinds of behavior protect us from infection: mask up, hand-washing, avoiding too-close physical proximity to people who might be infected. If we do those things, the new surgeon general nominee, Vivek Murthy, said Sunday on NBC’s “Meet the Press” that there’s “no reason to believe that the vaccines that have been developed will not be effective against this virus as well.”
How does this affect the markets? It scares people into selling when they should be thinking.
We already have stop orders in place on a number of profitable positions. I hate to see them execute but if they do I have a whole bunch of other purchases I will be making when these new-to-us shares go down enough.
For now, I will not add anything to our sell side.
I will, however, look to buy 500 BP if it sells for $19.50 today and as well as 350 shares of Artisan Partners Asset Management Inc. (APAM) if it reaches $48.05.
Also please remember that 500 points ain't what it used to be. On a Dow at 30,000, that is just over 1.5%. Keep calm and we'll see how this unfolds...
Caveat: Unless you are a client of Stanford Wealth Management, I do not know your personal financial situation. Therefore, I offer my opinions above for your due diligence and not as advice to buy or sell specific securities.
Disclosure: I/we have no positions in any stocks mentioned, but may initiate a long position in bp, apam over the next 72 hours.
I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
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