I'm dealing with flash floods and internet outages this morning in North Carolina but like any good trader that isn't stopping me.
I've been looking for some opportunities in a market that continues to hold up. Political issues are being ignored and the rapidly growing number of Covid-19 cases is not having any market impact.
The biggest positive I see is a continuation of speculative trading action. Traders are still looking for opportunities and are dealing with the recent rotational action quite well. It would be very easy to embrace a negative narrative, but it isn't happening.
One covid play that I feel is a particularly good value right now is Pacific Ethanol (PEIX) . The company has completely transformed itself recently and is now a major supplier of medical grade alcohol used in sanitizers. This is not a business that is going to slow down anytime soon. PEIX has already contracted most of its 2021 production and will be enjoying tremendous free cash flow.
I hope to have my internet fully restored later today but it is going to take more than that to prevent me from looking for the next great trade.