We Made It

With the final full week of trading in the year 2020 underway, those speculators still liquid should not, well, sell themselves short. Understanding that surviving another year in markets is never something to overlook may seem like small potatoes to those expecting daily 100% returns. But over the long run you would be surprised how significant the accomplishment truly is. 

Speculation, in all forms, lends itself to the extremes of human nature.

Specifically, the smoke-and-mirrors that many gamblers project regarding their constant wins, big wins, and lack of any meaningful losses can have a deleterious effect on honest gamblers/speculators, who are embracing the grind and understand the power of survival. With the epic rally in equities off the March lows, we have indeed seen various forms of euphoria come back into markets. Again, this lends itself to the idea that "everyone" is getting rich and losses are for the weak. 

In reality, the more things seem to change the more they stay the same. As an example, while TikTok videos and other social media video editing platforms have made micro stars out of all of us, did you know that it me a sign of a maturing republic? In Ancient Greece it was said as that civilization entered its downswing that everyone wanted to become an actor in those ancient Greek open-air theaters (So am I saying America is doomed? Well, we all got it coming, kid. But it will take many, many decades for that to play out even if true). 

Instead of going off on that tangent, though, let's get back to the business at hand: Not overlooking that living to fight another year in markets is an accomplishment in and of itself as it allows yourself a chance to prosper and flourish in 2021. 

As for today's tape, the opening rally off the PFE vaccine news, alongside the AZN for ALXN buyout, and some Stimulus (apparent) progress, is off the highs as New York City warns of a hard lockdown possibly coming soon. 

My keys remain the small caps and chips in terms of upside bullish momentum; If they reverse course more sharply by day's end it would be more noteworthy than what we are seeing now.