E Market Briefing For Tuesday, Oct. 13

Columbus Day Perspectives generally surround the market's continuation on the upside fairly dramatically led by the 'super-cap' usual suspects, which is considered a blow-off by some. However breadth was pretty good, and my suspicion is that after perhaps some consolidation in the morning, we go up a bit more, especially if Oil rebounds after retreating post-Hurricane Delta.

Other than that, there was focus on the Judicial Hearing in Washington, as the focus shifted along party lines generally, as would be expected. Tuesday is to me the big day of the week, not just because of Apple's (AAPL) iPhone 12 'reveal' of course, but as I'll be visiting LightPath (LPTH) concurrently, then later a 'presentation' coming after the Close, from Sorrento (SRNE), which is more important than outlining a commitment to the future (of COVID-19 solutions and more..).

It's 'get your ducks in a row' time in San Diego..

Although we know with antibodies how the focus went to vaccines, I just have to ask: where is Government funding and an EUA for testing"? As investors if they're not heard it, I tell Sorrento they have plenty in 'petri dishes', even one or two FDA go-aheads for months about which we've never heard details. It's a cute thing for some to say it's 'totally secret', but nobody else's were, so that does ring hollow. That makes the Presentation important even as they outline how 'programs' they're working on are synergistic (and they are). However, I'll say unless there is 'surprise' news of achievement, Sorrento needs to stop spending money on more programs and instead focus on taking any of the existing COVID-solutions toward rapid approval and commercialization.

With a growth hospitalization status in the US (and world) again, the virus isn't taking time off, and very much is still a threat. So Sorrento.. if they've got what they've proclaimed.. should finally capitalize on it. It's been enough time.

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