Wow!
Just 4 days to re-make all the gains the Dow had in the entire month of September. We're only 800 points away from the all-time high- we could get there by lunch at this pace. The sell-off took the entire month of November, with 6.7Bn shares traded on the way down but it only took 1Bn trades to reverse all those losses. Consider how much LESS money is now supporting that price indicator on the Dow – it's a real house of cards we're building here.
The good news is that, after a whole week of evidence, the Governments and media outlets that desperately want us to be open for Christmas have declared Omicron to be "not so bad." We all want that to be true so hopefully it is but it's way too early to make that call – irresponsible, in fact. Remember in March of 2020 Trump was stil claiming Covid wasn't a problem. In May of 2020 (Memorial Day weekend), most of America declared the emergency over. How can we possibly know now whether or not Omicron is a problem or not?
We hope not and we're certainly happy we were buying this dip as last week's Trade of the Year Runner Up, Intel (INTC) is blasting higher this morning, up 7.5% pre-market as INTC announces plans to spin off Mobileye self-driving division. Last week's trade idea for INTC was:
Intel (INTC) was our Trade of the Year for 2021 and it did so well we cashed it out in April but now it's come back down and we'd like to add it back to our Money Talk Portfolio. They did not make the cut because 2022 is an investment year for them but, longer-term, we're very exited to own the stock under $50.
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