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Payne's Perspective: December 7, 2020: Musings & Eureka Moments

By Charles Payne CEO & Principal Analyst

It was a very interesting week, one that saw the torrid pace of November cool just a bit amid rising Covid-19 cases and increased restrictions and lockdowns.

The market was not only basking in the glow of a glorious November but also from big names in the investing world succumbing to the fact that they cannot control the market or thoughts of individual investors. But going a step further, those big names are getting onboard.   

Case in point: Goldman Sachs (GS) not only now sees the value proposition in Tesla (TSLA), but they have the most bullish target on the Street. Also, famous short-seller and curmudgeon Jim Chanos finally threw in the towel on his massive, short on Tesla.

There is no doubt the market was looking for another somewhat elusive gear, just as signs continue to point to the economic rebound stalling. By the closing bell on Friday, it was clear Congress, and the Fed would have to step up to the plate in a big way.

To read the full report, contact your account representative or email Research@wstreet.com

Charles Payne
Wall Street Strategies


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