E Hairy Trading Before Daylight Savings

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The week after daylight savings will begin with the S&P index falling 0.24%, according to Barron's. It ran an interview with 93-year-old Henry Kaufman. He is negative about the lack of competition in financial institutions and the money printing frenzy, telling Randall Forsyth “when bonds actually must be sold, their marketability isn't real.”

Last week saw some pretty hairy trading in GameStop (GME) and two IPOs which produced record rises, Coupang (+41%) and Roblox (+54%). I expect a correction. I am interested in Coupang because Korea is barely visible on the NYSE for regulatory reasons. It is losing money, but it is a full service internet operator and likely to grow with Korea as did Mercado Libre, according to Barron's.

Stocks in View

My pick for 2021 hit both highs and lows last week, according to Barron's, behaving more like a new listing that an old and established company. But there was a similarity. Our Cosan is now in limbo as there will be no US trading until its new listing as CSAN, rather than CZZ, goes live. It does still trade in Brazil.

While there is no formal US trading, there are still people selling and buying and the stock was quoted in a range of $15.27 to $16.44 last week; good for market-makers. Its year's high before the suspension was $16.64. Do not trade Cosan. Wait for the re-listing.

The Nasdaq didn't follow other exchanges up last week. This may hurt Sweden's Investor A/B, IVSBF. Astra-Zeneca-Oxford (AZN)'s COVID-19 jab may be associated with more blood clots—or not. AZN is flat as Wall St. doesn't believe Oxford can screw up. Being married to an Oxford man, I know this is not true.

Canadian Nutrien (NTR) was tipped by Raymond James Financial because inputs like fertilizer and seeds are not going to stop selling despite NTR upping potash prices by $55 per metric ton to $304. It also raised the target price to $65 from $58 (US).

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Mike Sharon 4 weeks ago Member's comment

Good article, thanks.