Zooming right back up- after President Trump flip-flopped even later at night than our late-night Briefing last evening, S&P responded to his truly softened stance. (I'm sure he caught immediate flack probably similar to my reaction to temperamental tweets harking back to Art of the Deal, and calmed it down.)

Good, it sparked an S&P rally I called for today anyway, just not believing he could let that tweet stand if he wishes to seriously stand for re-election, since everything about those tweets was counterproductive for November prospects in what is already a more-than-difficult contest. So regardless of how anyone views the merit of where stimulus would go, this needed to be backed-off of. Further I thought an 'Airline carve-out' was essential, and fortunately neither Trump nor Pelosi oppose that happening. Behind the scenes chatter likely.

Other than Sorrento (SRNE), that's what happened today, with more discussion that's not definitive about breaking-up big powerful tech companies and so on. Yes, if there is a blue-sweep there will be so-called 'trouble' for the big 'super-caps', but antitrust efforts in that realm is something I've postulated coming over the last few months, albeit not yet, and sort of from a bipartisan perspective. Also, I have thought that the parts might be worth more than the whole for several.

Executive summary:

• S&P recover yesterday's loss as Trump flip-flops.

• Try to avoid ESS (Election Stress Syndrome) in this ongoing chaos.

• FOMC Minutes affirmed their previously stated expansionist policies.

• Sorrento announced the discovery of Salicyn-30 'Small Molecule' that strongly Inhibits SARS-CoV-2 Infection in Preclinical Studies.

• Sorrento highlighted Salicyn 30's place in a potential Multi-Modal therapy strategy in combination with neutralizing antibodies against COVID.

• Comparative data generated thus far demonstrates Salicyn-30 may be more effective than another salicylanilide, niclosamide, a small molecule previously used to treat tapeworm infection, which has recently entered clinical trials to examine its effectiveness against COVID-19 they said.

• Salicyn-30 can potentially be administered orally alone and will be tested in combination with Sorrento’s potent STI-1499 and also affinity-matured STI-2020 neutralizing antibodies as a potential COVID-fighting cocktail.

• Also, less noticed, earlier Sorrento's Scilex Holding subsidiary provided an update: SP-102 is 90% enrolled for Phase 3 Trial, to relieve back pain.

• It could potentially be the first FDA approved epidural steroid product for treatment of sciatica, with potential to replace the current 10 to 11 million off-label epidural steroid injections administered each year in the U.S..

• Late today the President pressed for 'free' Regeneron (REGN) antibody cocktails for Americans suffering COVID, great as it further legitimizes the space and Sorrento's (if and when approved) has more efficacy at lower doses.

• Clearly our confidence level will increase once there is a favorable Trial outcome for any of their COVID-fighting solutions, however presupposing success on that front, SRNE shares will be at a higher price level then.

• S&P should ease a bit higher then consolidate after what was sort of a mad rebound scramble.

• Much depends on reconciliation between the parties (even if not talking to Trump directly) for stimulus, more important than debating sociopathy as some are intent on doing, which is just another aspect of agenda politics.

• Nevertheless, for now Wednesday's Vice-Presidential matters, given the age of both primary candidates, hence requires some reasonable attention.

Meanwhile . . . the FOMC minutes were discussed in my 2nd video, so I won't expand on that now. Not much significant, other than a continuation of the emphasis on being supportive of recovery.

A few more words about Sorrento's announcement. Since the beginning of the COVID-19 pandemic, Sorrento shifted their (ongoing) focus somewhat to targeting the world's immediate problem of arresting SARS-Cov2 in humanity, while still developed their important program targeting non-Opioid pain relief (it is going very well and entering Phase 3). And cancer studies continue too.

What the scrappy (and still controversial) San Diego biotech did, was morph their focus to aim at the entire continuum of care (prevention, early treatment and rescue therapies, with some testing solutions too) to manage COVID-19 disease.

My view has been that some of the licensing and other deals they've made in the wake of our rank gambling initial 'bet' at 4 and then again at 6, was totally speculative (and in a sense still is). However, Sorrento’s expansion into more of a series of multi-modal therapies, and partnerships (licensed or otherwise), were what triggered by thinking it's trying to behave like it intends becoming a broader pharmaceutical company, than just a scrapping biotech hoping for at least one hit. Logically, multi-modal therapies will naturally follow the approval of effective single therapies, regardless of individual drug potential. That's one way for the world to get combination therapy, also known as 'cocktails'.

So far I'm glad we took that expanded thinking about Sorrento, with decent action for our designated '2021 pick of the year' speculative stock. Technical action reflects short-covering as 'stops' are likely triggered (a couple times at 10 and then at 11, and probably soon at 12). With shorts evacuating, investor interest not only comes more into focus, but 'existing' shareholders calm down a bit (there has been lots of choppy action in this stock), and realize they may really have a horse in this race, not just for profit, but truly to help humanity.