Here’s What to Do Next
November 30, 2020
Dear Fellow Investor,
Investors have pushed U.S. stocks to what could be the Dow Jones Industrial Average best month in 33 years…
Three vaccines and a smooth presidential transition are the leading factors fueling the surge.
“We’ve got a lot of very good vaccine news,” said Daniel Morris, chief market strategist at BNP Paribas Asset Management. “We should, for the most part, move up between now and the end of the year, with a chance for a setback here or there.”
Premarket activity is indicating a slight downward trend for the day though. European and Asian stocks were mostly down this morning.
Brent Crude fell 1.5% to $47.53 a barrel, reacting to OPEC and its allies’ inability to agree on production for January. Gold was also off setting it up for its worst month since 2016.
Pre-Market Stock Movers November 30th,
- Moderna, Inc. (OTC:MRNA) jumped over 10% after requesting U.S. and European authorization for its COVID-19 vaccine.
- IHS Markit Ltd. (OTC:INFO) jumped 6% after agreeing to be bought by S&P Global Inc. (NYSE:SPGI) for $39 billion in stock.
In Other News…
- Reuters reported that President Donald Trump is ready to put the oil producer Cnooc Limited (NYSE:CEO) and chipmaker Semiconductor Manufacturing International Corp. (OTC:SMICY) on a blacklist of alleged Chinese military companies. Cnooc tumbled 14% and SMICY slipped 2.7%.
Recent Unusual Options Activity
These options trades are making waves today:
- An investor placed a huge trade worth $497,279 on XPeng Inc. (NYSE:XPEV) with a $63 call expiring on December 4, 2020.
- Another investor placed a trade valued at $360,000 on Vale S.A. (NYSE:VALE) with a $15 call expiring on January 15, 2021.
- And one more we’ll report placed a trade for $220,000 on Slack Technologies, Inc. (NYSE:WORK) with a $30 call expiring on December 18, 2020.
What’s an investor to do?
Here’s BLI’s Top 10 Stocks for 2021.
And for investors looking to cash in on the crypto/Bitcoin boom here’s 2 Stocks you can buy that are mining millions in Bitcoins.
The Bottom Line: The overall trend is up but picking one’s spots seems to be key. Hot sectors appear to be value stocks and cyclicals that have been hammered by the