Arete Trading Wednesday Report
Vaccine stocks Implode and Steel Stocks Rise 💉📉🏗️📈
Vaccine stocks imploded today. We saw a modest sell off Tuesday followed by massive selling today. It came to light later in the day that the EU’s drug regulatory arm issued a statement about mRNA and looking into the new possible side effects. When the reasoning became clear we saw a wave of more selling in the names. MRNA finished down -13.6 % and BNTX down -15.87%. The issue now becomes an over hang. We have uncertainty. No one knows when the conclusion of the study will be and what will be the outcome. I would imagine people taking the vaccines would slow down upon reading side effect claims. Whether founded or not , it will simply give some people pause. Then we have the issue of gap risk. At any time the EU could issue a report which could cause tremendous volatility. I do not see institutions wanting to take the risk. Better to sit on the sidelines and let it play out. There is most likely a short term top in both now. Steel stocks and Industrial names continue to benefit from the Infrastructure bill passing in the senate yesterday. NUE,STLD,X and AA did exceptionally well the past couple days. Also, CAT and DE are setting up for larger moves. These are usually sell the news events but what we are seeing is continued interest. One reason might be because before it gets to the house it will most likely be discussed and more details will come to light. That process can lead to renewed interest in the names. Key levels are on the charts !
Lets Look at our Indexes !
Lets Look at our Stocks!
Subscribe to You Tube! 👈Subscribe and turn on notifications. I go over BNTX,MRNA,UPST,AMC as well 20 other names in this video. I also go over the ZM trade and how you might want to consider a new tip to determine if a stock will break its moving average. Finally, Every evening after the market I do a recap and every morning before the market open we have a Q&A on the day ahead.
As always all investment decisions need to be made by the individual. We all have different risk profiles. No two people trade the same. Understand the buy points, stop losses, trims are suggestions. You need to develop your own process. I am willing to help. If you have questions message me. For example, to stop losses, I like to see them close. That does not mean that fits everyone’s risk profile.
Please make sure you Subscribe to Twitter! 👈and turn on notifications. There are times my updates are timely.
If you do not see a position and have questions please message me.
Thank you again for all the messages telling me how this Newsletter improved your performance and made you a better trader!
Wishing everyone Massive Success
Now you can share the Newsletter!
👇👇👇
Subscribe below!
👇👇👇