December 8, 2021

Markets:

Stocks were set to rise for a third consecutive session on Wednesday, as investors further looked through concerns over the Omicron variant and a potential policy pivot by the Federal Reserve. 

preliminary lab study from Pfizer PFE and BioNTech SE BNTX suggested that 3 shots of their COVID vaccines, including a booster, provides the same level of neutralizing protection against the new omicron variant as two doses against the original strain of the corona virus that causes COVID-19.

Treasury yields steadied after a jump on Tuesday, and the yield on the 10-year Treasury note traded just below 1.5%. U.S. West Texas intermediate crude oil futures rose to just under $73 per barrel, while Bitcoin slipped back below $50,000. 

Investors have snapped up risk assets so far this week amid prospects that the Omicron variant may not pose as severe a health threat as previously feared. And elsewhere, the latest developments in Washington, D.C., indicated lawmakers were on track to raise the debt-ceiling before a Dec. 15 deadline, which if not extended would leave the U.S. Treasury without sufficient funds to repay U.S. debt holders. The House of Representatives voted Tuesday night to approve a bill paving the way for Senate lawmakers to raise the limit with a simple majority vote.

 

Portfolio:

We enter the new trading session holding positions in PLTR, AHI, OPEN, EDR, and continue to hold itrm here.  Very nice day for us yesterday and very productive.  We enter the new session with a queue once again igniting with potential new set-ups.  As we continue to remind every; great period to be trading with the volatility and premiums where they are.  We continue to follow our trend lines and not the day-to-day narratives they try to place on this market.  Let's look to have another great session and build for the coming weeks as well.