Market Not Sure

Hi Friends,

The US stock markets opened down 2.0% today only to come back to nearly flat by the end of the day.

This was bullish as the really bad news of a new strain of the coronavirus and new European lock downs couldn't hold back the stocks. We did get the announcement of a stimulus deal (including helicopter payments) in Congress, but the market largely expected that already so that is not really a moveable event. I think the panic selling from the weekend's news shook some weak hands, and we are headed back up the rest of the week.

My portfolio performed pretty poorly today though, as I did some bottom fishing on economic reopening stocks - mostly cruise lines and airlines - which were much more affected by the possibility that the vaccines will not stop new strains from causing more reopening issues. Still, the bottom fishing has been very successful so I cannot complain about one bad day.

Thanks for coming by today, Brian

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