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because we lost control of covid-19 today went higher. the the s&p gaining and nasdaq gaining 1.02%. hospitality and leisure. has the market lost its mind no we are dealing with cross currents any time stocks get hammered, it seems to trigger visceral vaccine reaction good news bails out. on the one hand we know the cavalry is not coming. it is going to be in the form of at least one, pfizer vaccine, won t reach us until spring. in the meantime the virus is out of control we had 162,000 cases yesterday we are in a rough winter earnings from cisco, the networking type and applied materials and walt disney which needs no introduction. it is looking like we ll have a smooth transition from the trump administration to the biden administration that s a huge strange and even last week at this time, a notion of trump refusing to make plans to vacate the white house. i am sure you are sick of hearing it could the good earnings continue if you are worried of the virus and enco ....
gaining. it is time to admit that conventional wisdom has been wrong every step of the way. in this market, patience is not a virtue discipline cluster of fortune. buying the most obvious stock, well, that has been a strategy that was easy i struggle about how this is possible i am not used to a mark that reward investors being late to the party. we found out moderna has a vaccine that may work better than pfizer. that s getting off the table we got uncontrol spread over america. and mayors and governors refused to shutdown the bars and restaurants. those are the main places we are getting infected no, it is at home, jim this pandemic is steam rolling us the prospect of a vaccine keeps on plotting it and shutting everything down. i am sure you are wondering, given the numbers that we see, how is that possible first every now and then there were moments that we ll stood on our head. time like these is not sell. you must be willing to suspend judgment how far stocks ....
nasdaq declined .82% there is only one thought. good, they all got a chance to buy. not long ago on days like this we say oh boy, i got to get out of here while it is getting good who knows what it is going to happen with this thing it is going to roll over now we often see pull backs like this as opportunities that are too precious to swander. how do we explain the new mindset? i think because we broken the tyranny of the indexers. when the fed says something positive or when we get solid employment number. either way, we were in the throw to these big macro events. they control everything. not anymore. these days macro does not matter very much. and etf buyers have stopped reacting to this stuff instead they react to the opportunity so when stocks come down, these people step up and actually start buying, make it much harder to have a hideous sell-off you know what there is nothing new about this less lock steps opportunity mindset. this was the old new normal of the ....
populating wall street are a bunch of weather man everyday you hear the forecast today the dow slipped some points nasdaq declined 1.2% it is enough to make you take a meteorologist course to see which way the wind blows seems like both ways blowing at the same time. the tail wind dies and the market goes right back down again. you don t care about today s weather, what good is that for you on the forecast? it is easier said than done. how do you navigate your way through the confusing markets. starting with the winds from the vaccine. we know it is a huge tail wind for the economy. once people are vaccinated, we can open everything back to normal and more restaurants and retailers will make it and there will be more jubilation. the jubilation that kohl s got underneath its stocks and malls can reopen and troubled retailers can be able to shooure and macy s the younger robin hood traders are betting heavily on the cruise line, between the vaccine and soon enough we ll b ....
facebook reported amazing number last time. amazon gave you an amazing upside surprise and it got steam rolled it was hideous nonenonetheless, and i know that. there is the right way to look at it or the wrong way we don t look at the action and we are back to form an opinion about the quarter. that s the wrong way the right way when a company reports great number and the stock gets slammed, you look at the set up often because of an event like say an impending election. i am expecting massive confusion. one of the most confusing weeks of my career unless the results are blow out this day, we may not know who won plus with mail ballots nobody wants to unstock a bowl of confusion why not sell everything on monday for starters, you are too late what the heck did you think was happening. more importantly you are not nimble enough to get back in after you gotten out look at our quality stock selling off right now. you definitely want to get back in take amazon and facebook ....