Your editor has to admit that she is puzzled by how US markets are behaving, with great movements over small time periods. The trigger-happy markets are an indicator of a confused outlook. So too are the hefty share of trades resulting from newbie investors getting together on Robinhood, and the rumored hedge moves by Softbank of Japan, which is supposed to be investing in companies, and not playing with options.

After a bullish opening today, Wall Street fell again. Then it got its mojo back. Then after lunch, it fell some more. Today we have a buy because I think the sell-off is unlikely to continue, despite a generally bearish outlook. We are buying a long-term recommendation that suffered from a misguided capital increase overnight, a recommendation from Max Deml of Vienna with whom we trade ideas. He runs the “green” stock website Oeko-Invest.

Please note that the Drupal update of my website is back in the dumps because the Indian team was blocked from accessing the Visa-managed Authorized.net order taking facility on the site, for fear of hacking. They tried to get in directly rather than using the sandpile, an alternative way to change the settings without actually seeing the credit card data. Of course, my readers do not want to share their card data with a bunch of occasionally larcenous group of Indian engineers working for a US company which mostly overbills clients and does nothing to make the upgrade process rapid. I feel like a damn fool for trusting these supposed experts but luckily their CEO is playing hookey and I can push them to work more expeditiously.

Energy

Now for our buy. It is Canadian Solar, CSIQ, whose primary listing is in Toronto. It did something weird overnight which caused the stock to fall out of bed in a trigger-happy market environment, issuing US$200 mn in convertible debt for 5 years, plus the usual 15% issue for the underwriters. It did this without properly informing the world about its plans, and failed to make it clear what the money was for beyond general corporate purposes. This resulted in fear that there was trouble in store. The stock fell 6% over night and further losses occurred during the early hours. I paid US$27.75/sh which was 10% below yesterday's close. Join me and Max if you dare.

*BP plc BP which is aiming to become a major owner of carbon-neutral assets, bought a half stake in US offshore windfarms from Norway's Equinor, EQNR, itself a former oil company.

*Pembina Pipeline was slashed to neutral from outperform by Raymond James analysts and it fell sharply today. We sold in time.

*Ute Veolia of France which is aiming to buy out its leading rival, fell over 2% today. The market today penalized former safe stocks like utes today. VEOEY is under pressure because Britain is attempting to undermine the terms of the Brexit deal with the European Union.

*Schlumberger SLB Astra-Zeneca Ltd, despite green cloud deals with IBM and Red Hat, and assurances that it will make a cashflow profit comparable to last year's in 2021, is down 3.33%

Pharma

*Drug firms despite analysts encouraging us to buy them. An example is Novartis, a Swiss pharma giant recommended as a buy by UBS which earlier had been neutral. NVS gained 0.9%. It is a template for how a pharma stock can go rogue and then recover under new management, which is one reason why I stick with Teva. The Israeli firm dropped another 1.12% today but that is partly because Tel Aviv will be closed tomorrow. TEVA is being sued in NJ for patent infringement by Alkermes for vivitrol.

*Roche, which was not mentioned by UBS, fell 1.11% today. RHHBY. Both Swiss drug firms were fined by France for anti-competitive behavior today, along with Roche listed sub Genentech.

*Fellow Israeli Compugen rose 3% however. CGEN is hot.

*Astra-Zeneca which is having problems with its phase III coronavirus trials because of a negative reaction by a UK participant, is being rewarded for its revelations today, up a nickel/share. The latest theory is that AZN will still have a COVID-19 jab before this year ends.

*Zymeworks of Canada is also up, by 2.22% on no news. ZYME is presenting at various upcoming virtual conferences.

*Beigene is doing the same but its stock fell on insider sales. BGNE is a Chinese firm that recognizes foreign patents and does trials for them.

*Japan's Eisai (ESALY) fell a half percent.

*Glaxo GSK fell 2.13% because is the partner of AZN. But its boosters are used by almost all vaccine makers.

*Exelixis is EXEL up on doing 2 deals today, with Catalent and NBE on monoclonal antibodies to COVID-19 and cancer respectively. It is a US stock I own.

Tech and Tel

*Tesla gained. Nicola lost some of its GM-induced gains because an analyst said the auto giant had overpaid based on incorrect data from NKLA. Nio NIO of China is up fractionally because it is not part of this story.

*Nokia NOK again found use for its aged Airscale radio linkages, for 5G sold to Telefonica. It fell 2.22% all the same.

*Microsoft MSFT is down fractionally.

*Even Nintendo is down despite new gaming options. NTDOY.

*Latin Amazon rival Mercado Libre MELI rose 1.2%.

*Japan's Fanuc gained 1.5% because FANUY robots will be in demand under plans by Joe Biden and other leaders to cut dependence on emerging markets for making stuff.

*Tower Semiconductor, TSEM, an Israeli owned firm which warned that its current quarter will be impacted by the hack attacks which led to its closing its chip factories over the weekend, naturally fell.

Mexicans

*Our southern neighbor's central bank reported that its inflation rate is an annualized 4.05% which should have hurt its stocks. But Orbia Advance, maker of PVC watering systems which will pay a dividend of 4.45 US cents to shareholders mañana, MXCHF rose although the dividend will not be paid to those buying today.

*REIT Fibra Uno is up as it operates in US$, renting retail commercial space to global players FBASF.