On the From-Home Plays

The pandemic and lockdowns, with a few urban area mandatory curfews sprinkled in for some extra flavor, gave rise to a basket of stocks which thrived even during the worst of the March decline. The "from-home" plays, with ZM as the poster child, were the hottest thing going for a while. 

As the market keeps aggressively pricing in a strong recovery in all facets, including today's historically  surprising jobs number, those from-home plays have been walked down, or in some cases thrown down, the steps as they fall out of favor like WORK today. 

However, it is interesting to see the telemedicine play, Teledoc, find some footing at a fairly big technical area. 

On the TDOC daily chart, below, we can see one of the from-home winners reversing to green today off its lower Bollinger Band after losing its 50-day moving average earlier this week. A name like CHGG (a learn-from-home play) is also sporting an early red/green reversal. 

So while badly-beaten names like BA CCL MGM UAL are still enjoying their relief rallies (more of a huge sigh of relief and short squeeze because they did not imminently fall to zero), the emerging leaders on dips may be a better spot to look for new entries headed into next week rather than chasing some overcooked airlines which are still in strong overall downtrends.