Gilead Sciences and Tesla
Some of yesterday’s winners or most active should be no news to any who looks at the markets. Gilead Sciences announced some positive results working on Covid19 related drugs. Good, we need more stuff like this to get our lives back to normal. I don’t know about you but I’m getting stir crazy after being in ’lockdown’ for two months now.
My chart generator is showing me that there’s only a support line down at $64, so congrats to all the stock pickers.
Of course you could’ve bought the BBH ETF a while ago and gotten some diversification if you’re a bad stock picker. Then your chart would look something like this.
Biotech’s are breaking out and as I wrote before, healthcare will be a big winner coming out of this Covid19 pandemic. If I were to buy an ETF now, it would be BBH or XLV. A few shares with a stop.
Elon Musk’s ‘FU’ to the World
I have to give the man credit for sticking to his guns and building TSLA. Yes I’ve read the news about him being a harsh task master and calling this pandemic dumb, but traders and investors are rewarding him by buying his stock. I had TSLA stock back in the 400’s but sold it for ethical reasons.
TSLA is like a God ascending the throne, all share worshipers have been rewarded mightily for not wavering in their faith. Still, at the writing of this post it has -$4.92 EPS. HA!
As Nietzsche once wrote, God is Dead.
While I believe electric cars will one day take over the old combustion engine, I just think TSLA is a long term pump and dump. I’m not drinking any Kool Aid and passing on this.