Good morning, it's Paul and Jack here with the SCVR for Monday.

Mello

This evening Jack will be joining the panel for Mello BASH (Buy, Avoid, Sell, Hold), with 5 new investment opportunities up for discussion. It’s part of the popular virtual Mello Monday event that runs from 6-9 pm and includes a variety of insightful presentations.

If you are interested in attending, Stockopedia subscribers can get 50% discount from their tickets by using the coupon code MMStocko21 at the checkout. You can register here or see the full lineup here.

Pfizer vaccine news

Breaking News - I’ve just heard on the BBC TV that Pfizer has announced positive results from its covid-19 vaccine trial, with c.90% effectiveness in preventing the disease apparently. It is already in production, with a stockpile being built up, to hopefully be released once it finishes testing, and has hopefully got all the necessary regulatory approvals.

Coincidentally, I commented here last week, that I think we’re overdue another rally on shares that have been hit hard by covid. The market is meant to look forwards 6 months, and it seems that we should have made substantial progress against covid in 6 months’ time, with better testing, and vaccines possibly. We’re spoiled for choice in terms of bargain small caps that are priced almost to go bust, yet have strong recovery potential. I reckon a lot of money could be made from buying the right shares around now.

Also look at all the takeover bids happening now. That’s another indicator that there are pockets of value in the UK market. I do think small cap investors generally seem to be far too cautious at the moment, not looking beyond the current situation of temporary lockdown & rising covid cases. There’s a good chance that this thing could be under control quite quickly, which means we’re being offered some terrific bargains by Mr Market. Sorry if it’s unfashionable to sound upbeat, but rightly or wrongly, that’s how I see things right now.

Wow - The Dow futures are up c.1300 points to 29,600, and FTSE 100 up 240 pts to 6140 (around noon). It will be interesting to see if those levels stick, or if we’re just seeing shorters carried out on a stretcher?! Clearly the market is taking this news from Pfizer very positively.

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Agenda

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