27Feb10:42 amEST

What in Tarnation?

Another 700-900 point drop or so in the Dow this morning, and yet the likes of NFLX RNG ZM (below, on its updated daily chart) are acting like we are breaking out to new highs on the indices. 

Of course, we know that is not the case, with the Dow and Russell both firmly below their respective 200-day moving averages, the S&P 500 testing its own 200-day, and the Nasdaq looking like it wants to drop to test it, too. But if and when we eventually firm up it is hard not to like those standout names, especially the absurd strength in ZM. 

As for the virus plays, INO was my only trading long headed into today. Another play I am debating is TWST, which has not yet broken out and received the virus "love," so to speak. 

Overall, this sort of broad market price action likely gets us one step closer to a tradable low. But I still suspect we could use another bout of scary, indiscriminate selling or two first before some better relief rally trades materialize. 

Stock Market Recap 02/26/20 ... Stock Market Recap 02/27/20 ...


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