September 23, 2020 | Daily JAM, Short Term, Volatility, You Might Have Missed |
I've argued that there are two giant bets that support stock prices at recent historic levels. One is the Vaccine Put, the belief in the delivery--and relatively soon too--of a safe and effective coronavirus vaccine that will let economies around the world return to...
September 14, 2020 | Daily JAM, Short Term, Volatility, You Might Have Missed |
Just in case you needed an example of how powerful the Vaccine Put is, check out today's (September 14) action in the U.S. stocks. On positive "indications" about a possible coronavirus treatment, Incyte (INCY) was up 5.55% as of 3 p.m. New York time. On positive news...
September 8, 2020 | Daily JAM |
Clinical trials of a covid-19 vaccine being developed by AstraZeneca (AZN) and the University of Oxford have been put on hold pending a review of a “potentially unexplained illness,” the company said in a statement today. “This is a routine action which has to happen...
September 2, 2020 | Daily JAM |
On September 1 I argued that "Now there are two Puts supporting the market as the Vaccine Put joins the Powell Put." Those two bets--that the Federal Reserve will continue to flood the financial markets with cash and will increase the flow if the markets start to...
September 1, 2020 | Daily JAM, Mid Term, Volatility |
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August 26, 2020 | Daily JAM, Morning Briefing |
On Monday the Standard & Poor's 500 and the NASDAQ Composite hit new all-time highs on what I'm calling the Vaccine Put, the hope that we'll see the announcement of an approved coronavirus vaccine by early in 2021 or maybe even the end of 2020 or perhaps before...
August 24, 2020 | Daily JAM, Morning Briefing |
Yesterdays "good news" press event from President Donald Trump started U.S. stocks on an upward trend this morning. As of noon New York time, the Standard & Poor's 500 was up 0.73% and the Dow Jones Industrial Average was ahead 0.99%. The NASDAQ Composite has...
August 18, 2020 | Daily JAM |
We're all familiar at this point with the Powell Put, the market's faith that the Federal Reserve will support stock prices with a deluge of cash if the market starts to crack. Part of the faith in this put comes from the Fed's promise that it will keep its benchmark...
August 16, 2020 | Daily JAM |
...more attention on reports of delays in the clinical trials of new drugs to treat patients infected with the coronavirus. We're starting to hear stories o delays out of the drug companies working on treatments that would enable those stricken with the coronavirus to...