Russian vaccine. Yeah. Which i guess is, i dont know i dont know are you going to take a russian vaccine . Thats about now, were really talking about a tremendous leap of faith a russian vaccine which i think theyve dubbed did chernobyl ii. Im going to pass. Is that a hard pass yeah, hard pass chernobyl its been approved even though its had trials. Easy come, easy go. Remember, they spent a fortune on the trial and a couple people died i dont think thats the russian way. Nor do i think when 28 people died in world war ii did necessarily everybody come to a fight with a machine gun fight and they have very little fear and its demonstrated in certain trials, really well, listen, we can hope theres great science there and there is something well, they used to have great science. And plenty of scientists, no doubt. And rockets they stole a Hydrogen Bomb from the rosenbergs, they can do that. Lets read what putin had to say, as far as i know a vaccine against a new coronavirus has been regi
As the action ultimately turned negative today down. S p declining. 80 and believe it tech and 234nasdaq plunging 1. 6. This month the market is led by the covid winners, the names that do fine when the economy is frozen those are not the stocks that lead us higher when times are good but as we saw today, covid plays could lead lower when the economy is improving are we finally emerging from the trough lets consider the case here first, you need to know. Were in a dangerous place its dangerous to be where we are because you can never tell if the economy is really at an Inflection Point until after and even if it is, covid stocks make up the average and drag down everything were now in the third day of this rotation with the Fastest Growing covid winners, industrials, travelers, retail these groups struggled to find their footing because they are covid losers but now in the morning today but the last two days, they are on fire i mean, did they give up the ghost at the end of the day . I
That we are looking at, much like we did yesterday where we were talking a great deal about the possibility of a new record even intraday or all time on the s p. Yesterday it was that bizarre russian vaccine news and i think we can all term it bizarre, but today its moderna signing a deal with the u. S. Government which is signing a lot of deals to make sure that there is manufacturing capacity in place to deliver a lot of doses of a vaccine if and when it does get through phase three trials into i was listening to meg tirrell this morning and i was looking at an email how much is regeneron getting. 500 million in july i would say, david, is there any amount that you wouldnt spend on these companies to get this thing beaten because if were spending 2 trillion to just try to stay in place we have got to flood the market with money. Make it so its worth wise for everybody. I have emerging bio tonight, they would be helping making a lot of these giant doses and i dont think i think that y
Whether its medical, some of these states posting some of their highest caseloads since the pandemic began, but then again optimism about the recovery at the same time. Right look, i think that we are all kind of thrown its governor to governor, yesterday in new jersey suddenly we get the you can have 100 people outside, 50 people inside. Versus six we are all kind of confused. With he see some parts of the country looking worse, other parts of the country that were so terrible its wide open and the confusion to me is what are the numbers going to be look like what are they going to look like given the fact that new york now feels like post wuhan and the rest of the country seems like, i dont know, maybe is it going to be italy, is it going to be spain i dont think it is. I think its going to be better, but i have to tell you, carl, that the stuff thats being bought is not in synch with whats happening, particularly the airlines, the hertz rental car, we saw a very good piece in the jo
Platforms do a uturn and surrender everything it made after that magnificent quarter sell sell sell you dont want to see walmart soar and then repeal the whole move after an amazing quarter no less it is agonizing to witness amd give up a quick 25 points when the future seems so bright but sometimes you have no choice and i think this is actually one of those times we just had another bad day. Dow lost 291 points s p shed, nasdaq tumbled 1. 7 . Boy, did it get ugly at the close. What do you do at moments like this rather than trying to trade in and out, selling everything and then trying to buy it all back at lower levels, i think you need to learn how to ride out these moments. Unless stocks arent for you see, i think if youre patient i believe youll do better sticking with stocks rather than hiding out in treasuries even if they have much more generous yields than they did a year ago. So lets start way key word here, and that word is patience. Two weeks ago we had the eminent market