E Market Briefing For Monday, Dec. 28

Aside the angina and disruptive political scene, which includes deferred help so many Americans need to 'bridge' this latest pandemic surge to recovery, it turned into a bit of an interesting Thursday. So I expand the Daily Briefing more than expected; especially because of new information suggesting a big change for vaccines. 

We got a very important outline of an EU / UK post-Brexit trading deal; we did not get downside follow-through on Trump's veto of the Defense Bill; and we'd be viewing as a tossup what happens with the 'Relief Package'. Whether right or wrong, the market seems to 'assume' (always beware of that word) that it's all politics and they 'must' come to an accord for the people.

Perhaps; and if it is to be so, then the S&P can continuing hanging-in toward year-end and we'll look for investors to try holding the super-caps so as to at least push gains into a new tax year; which (if Republicans hold the Senate in the wake of Trump perhaps making that more difficult with the Georgia run-off based on his 'relief' disruption yesterday); though few disagree about the $2k idea if it had been brought-forth sooner during the debating whereas now it's at least the appearance of political posturing and unrealistic. The sad part has nothing to do with Trump, but how the survival of poorer people is politicized.

Meanwhile, what do I need to point out with individual stocks? 

There is Sorrento, which submitted the EUA for Covi-stix; and based on the FDA's history in this crisis, it's not impossible they approve it very quickly. So the slightly delayed but often-seen post-news consolidation really would be seen by bulls on the stock as a buying opportunity anticipate a 'zoom' on a real approval, rather than just the submission. Then everyone will question if they have the production capacity; so perhaps that was the reason for delay.

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