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Nov 02, 2021

Good morning!

Markets are flat at near-record levels ahead of the Fed which makes plenty of sense for the simple reasons that traders don’t want to commit one direction then get pulled another if news about the taper isn’t what they expect.

Here’s my playbook.

1 – Here we come

Here we come, walkin’ down the street
We get the funniest looks from everyone we meet
Hey, hey, we’re the Fed’eeze and people say we fool around
But we’re too busy ignoring inflation to put anybody down.
We go wherever we want to, do what we like to do
We don’t have time to fix the economy, there’s always something new.

The markets are flat ahead of the Fed’s comments on rate hikes, tapering and undoubtedly more poppycock on how inflation is transitory. If things are as planned – a $10 billion reduction in Treasury purchases and a $5 billion reduction in mortgage purchases – then the markets will probably shake this off. If there is any perception whatsoever that the Fed will cut faster or deeper or hike rates faster and steeper, there could be some immediate downside.

I suggest doing three things right now:

Set your trailing stops
Have at least a little $$ in inverse funds like those I recommend in One Bar Ahead™
Know which companies you will BUY when everybody else is selling

Watch my take on the Fed and reading tea leaves

2 – Pfizer … like there was any doubt!!

People have complained to me all year long “Pfizer’s done nothing” “hasn’t gone anywhere” “isn’t moving”. Blah, blah and more blah.

Drum roll please … the company announced earlier this morning that it brought in $13 billion in Q3 versus the $10.88 billion analysts expected. It’s also on track to deliver 2.3 billion Covid vaccine doses or roughly 76% of the 3 billion being made this year. That’s a jump in revenues of 134% YoY and 133% for earnings.

Perhaps most significantly, the company also raised full year vaccine sales guidance to $36 billion which exceeds even the $30-$35 billion I suggested last July.

- 07/30/2021 OBA Ask-Me-Anything

What’s next?

Pfizer is still one of the very best stocks you can buy regardless of how you feel about the virus, vaccines, masks and all things Covid related. And the 3.57% yield is great for income-starved investors.

3 – AMZN is the Tucker of space

Amazon made news last week when it announced that the company will be using Verizon’s satellite network to build out rural Internet capacity. Yesterday the company announced plans to put a few birds in space.

Coupla things stand out here, not the least of which is that Verizon’s satellite network doesn’t actually exist, and Amazon’s much-ballyhooed satellites will be going into space on ABL’s rockets. Apparently, Amazon itself doesn’t trust Blue Origin enough to put ‘em in orbit.

Meanwhile in Camp Musk … Starlink now has 1,700 satellites in orbit and started putting ‘em up roughly 4 years ago. Even OneWeb, the UK’s version of satellite networks is way ahead of Amazon.

Amazon may well be the Tucker of the space satellite industry.

Buy … more …. Tesla …

4 – I’ll have a Whopper, fries and some crypto with that

Robinhood is in the hot seat as various AG’s close in and the DOJ continues to pressure Vlad “my favourite planet is Pluto” Tenev over gamification that has not gone well for its customers. So, logically, the company is teaming up with Burger King for a crypto giveaway. Spend $5 on the BK app and you could win Bitcoin which, logically requires you to open a Robinhood account to receive.

Coincidence – I think not. Robinhood got blasted last quarter following a drop in crypto revenue. (Read)

5 – TSLA’s about to become an annuity

Telsa will generate another $25 billion a year by opening its SuperCharger network to other EV makers, a move that I’ve told you was the end game for several years now.

Wait till you see what Team Musk does next with data!