All over the developed world, the much-anticipated COVID-19 vaccine is beginning to roll out. Today, I sat down with trading experts Roger Scott, James West, Adam Sarhan and Jeff Yastine to discuss our trading strategies right now and what we expect from the stock market after the vaccine.
Last week, we saw nothing but IPO fever. DoorDash Inc. (NYSE: DASH) and AirBnB Inc. (Nasdaq: ABNB) saw huge first days, but took a beating on Monday. The excitement over these initial public offerings is too similar to the late 1990s, and my advice is to proceed with caution.
I want to turn my attention to this week. With the big news on the COVID-19 front, people are looking forward to life and the stock market after the vaccine.
The idea that things will be normal again soon has people understandably excited. It has them gearing up to eat out, ditch the mask and start spending as the economy returns to normal… maybe.
My advice again: Proceed with caution.
Right now, there is so much attention on the positive news that the population is acting — and spending — accordingly.
The hope for the return of a normal economy is outweighing the reality of the situation. The reality is that nobody really knows what’s going to happen in the stock market after the vaccine or in 2021.
The most recent jobs report was less than positive, a new president is stepping into office and, on top of that, this vaccine is not a magic pill.
WealthPress Head Trader Roger Scott anticipates not seeing any true impact at least until the end of the first quarter in 2021. It’s likely that it will actually be much later before we reach true normalcy. That means some of the bad news will catch up to us before the good news.
So again: Proceed with caution.
Sit down with my fellow traders and me as we discuss IPOs, currency, the stock market after the vaccine and our in-depth advice and tips on trading at the end of the year.
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