E Volatile Markets

*Glaxo GSK fell 1.2% over worries about new coronavirus risks in Britain.

*Canadian Zymeworks recommended by Martin Ferera fell 3.72%. ZYME is an option trade victim.

*Dr Reddy's of India fell 1.5% here on worries about the country's covid-19 risks. It was tipped by Abhimanyu Sisodia and has gained ~75% for us. RDY reports a week from today on its Q2.

*Compugen dropped another 3.1% today, over worries about Israeli politics post-Trump. CGEN.

Tech & Tel

*Verizon VZ, on which I put a reduce rating on yesterday fell 0.7% today after it said it would cut past due customers in Q4. It met but did not beat consensus for Q3. It has fallen every day in the past week.

*A telco exception is MultiChoice MCHOY, offering services and funding in African countries. It gained 2.8% today in a market with few gains. Its part-owner South African Naspers rose 5.5% today., a rare riser.

*After Sweden opted to ban Huawei 5G for its networks, its home play Ericsson surged 11.14% to a year's high. ERIC, or Telefonaktiebolaget LM Ericsson at some brokers. (I gave the full name not to show off, but because a reader told me he cannot find the share.) Nokia NOK of Finland rose 2.14% on a deal done there.

*Canada's virtual pilot trainer firm CAE gained ~30%. It is a play on airlines.

*Israeli owned chip-maker Tower (TSEM) also rose ~30%.

*Most phone firms saw heavy selling here: BCE off 0.5%; Vodafone VOD down 1.2%

*Mercado Libre MELI saw a 21% rise in short selling in the past month, a dangerous risk. Don't sell short.

Energy and mines

*NIO of China is another short squeeze victim this month with a 38% rise in short sales, assuming Trump will pull off a win (and hurt China.) Beware says Citron Research, a famed short-seller there.

*Schlumberger Ltd beat a minimal forecast of restated earnings at 16¢ by 3¢ but sales were down to $526 bn, off $114 mn from forecast. SLB overpaid for US presence which will unroll slowly. It fell 2.5%. More from the presentation and conference call tomorrow.

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William K. 3 months ago Member's comment

An interesting introduction indeed. I do not judge and pass sentence on what others do, although I certainly may have opinions. And if the Government in China asks for my advice I will provide it, if not, then not. That goes for the Pope as well. I respect a much higher authority than either of those.

And certainly the markets are being a bit volatile, which is because of the emotions of those fearful folks involved. Those who are chained to fears will be led by them, that is how it works.