This is Brian Bolan filing in for Jim Giaquinto on the last day of November, and it was easily the craziest November in my life and probably most of yours too! Jim has a habit of taking off days where I am extra busy, but this time it turns out I didn’t make a move in any of the three services that I manage for Zacks. That will change tomorrow as I will have a new addition to the Stocks Under $10 portfolio.
December is my favorite month of the year, mostly because it is when my Mother and Father were born… and me too… but also it’s the month that my Buckeyes win the B1G Championship. This year is unlike any other and I get to see my Buckeyes play the hated Wolverines in December and then head the championship game and it could be against my other favorite B1G team, Northwestern (NASDAQ:NWE). It would be so 2020 for the Wildcats to upset my Buckeyes, but anything can happen.
That is the theme for the last several months and probably all of 2020. Anything can happen. We have been so trained by this market to buy those dips that we have seen stocks move so much higher than they probably should… but all of that is an expectation that a vaccine is coming. There is plenty of vaccine news to go around, but there is also lots of talk about people not taking the vaccine when it comes. Having the vaccine and not taking it would fall right in line with the idea of “anything can happen.”
Crypto Come Back
It was a few short years ago when the Bitcoin surge to $20K was all the rage over Thanksgiving dinner. Just before the holiday, it looked like the run in all crypto’s was going to get smashed… but then the holiday came and went and the weekend brought some fresh concerns in Asia and that started the buying all over again.
Is it for real this time? I mean a former tech security company founder and CEO talked about how Bitcoin $50,000 was a sure thing… and today we heard from the brothers that are more famous for the depiction of them in the movie “The Social Network.” One of the Winklevoss twins was on CNBC and if you thought bitcoin at $50K was crazy, he suggested that it is moving to $500K… or roughly a 25x move from here.
The way I see it, the alternative currencies are destined to get more recognition, but the question is timing. It could take 25 years for Tyler Winklevoss to get his price --- but most indications once you study the bitcoin story are that he is at very least somewhat right. The number of bitcoins is fixed, so as demand increases the supply will not change and that means the price will only move higher.
Zacks Portfolios
There was limited action in the portfolios managed by the Editors here at Zacks. Monday is the day for Black Box Trader to swap out of a few old and into some new names. On the buy side, there was DKS, TPH and RLGY. The three names that were removed all came with single digit gains. If you hit a bunch of singles a lot of runners will cross the plate.
Jeremy Mullin is the editor of Commodity Innovators and he made a few moves here today. The professional trader added SLB to the list and took gains of more than 25% for NTR and VALE. The real win here was the VALE trade which was opened on 11/5 and brought in some 28% in just over 3 weeks.
Surprise Trader didn’t have Zoom Video (ZM) in the portfolio for the earnings after the bell and that looks to be a good move as the stock is trading lower in after hours. Mr. Bartosiak did add TLYS to the list as he expects that stock to post a solid beat when they report next.
Jim Giaquinto returns tomorrow,
Brian
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