Long way to go, short time to get there

Good morning!

Futures are clawing higher after yet another record close. And, with 48 hours to go in this year’s trading calendar …

Here’s my playbook.

1 – Don’t do anything stupid

Many investors and traders confuse action with progress because they “can.” That’s a tough spot because the Internet and a plethora of trading apps have gamified Wall Street.

That’s not always the best thing to do.

I suggested yesterday that you place a combination of unbelievably high profit targets in place along with a slew of impossibly low lowball orders as a way of playing to strength.

And, I’m going to reiterate those instructions today.

Wall Street’s traders would love to separate you from your money by making you do something stupid.

Do NOT give ‘em the chance, especially now!

2 – Weekly jobless claims near 52-year low

Forget the politics for a moment … the reality is that there are 11.03 million job openings but something on the order of 7.5 million unemployed workers. Chances are good that anybody who wants a job can get one. (Read)

3 – If this is true

Biogen, who is best known for making and selling a hugely overpriced, debatably functional Alzheimer’s medicine reportedly asked Samsung – yes, the Korean industrial conglomerate – to buy it. Shares jumped double-digits when news reports broke. (Read)

Why would a TV and appliance maker be interested?

Unbeknownst to most people, Samsung and Biogen are already working together to create low cost biosimilars, a special class of drug that’s modelled using living organisms as ingredients. That’s different from generics which are copies of synthetic drugs.

Samsung denied the reports, of course, but that would be standard in a situation like this.

I’m suspect.

If the reports are true, the stock may just stay higher. But if the reports are not true, I think Biogen comes crashing back to earth which makes is a great short candidate or worth a speculative flyer using a few well-placed putskies.