Counter trend rally! Look out you never want to be caught in one of these. They exist to suck you in and I see a lot of people being sucked in.
What's happening? The CDC has put a pause on Johnson & Johnson's (JNJ) vaccine because it apparently can cause blood clots, in one case fatal, in women. Even though the likelihood of dying from the JNJ vaccine is no different than dying from the regular flu vaccine, the CDC stopped its use.
That meant people shifted from the opening of America to the closing and everything that used to be hot, Zoom (ZM) , DocuSign (DOCU) , Peloton (PTON) and the like. I do not believe that the JNJ incident will put a dent in the Great Reopening thesis so I want to take the other side of the trade as JNJ hasn't been a real factor. It's been all Moderna (MRNA) and Pfizer (PFE) .
I think that it's a good time to reflect on the longer term trends and worries that I talked about in that earlier piece, NOT on the problems with JNJ. Remember, JNJ only had about 4 million vaccines to give because their big Baltimore plant, which should have been able to turn out tens of millions of doses by now, isn't certified because of manufacturing problems. It was shipping vaccines from the Netherlands.
You just need to know that Pfizer and Moderna can do the job.
