Sorry I Ruined Your Tesla Party

With TSLA and NVDA still putting the hurt on shorts deep into the afternoon portion of today's session, the QQQ ETF is up by more than 1.25% as I write this. 

As that melt-up continues, there are a few underlying developments regarding rotations, however: The tape is back to being concerned about the "re-opening plays," as airlines, cruise lines, casinos, and BA are virtually all red, while most grocery stores and consumer staples are acting quite well. This type of action is consistent with a market pricing in some more possible shutdowns in the fall, as painful as that is to imagine. 

In addition, banks are getting the business to the downside for a variety of reasons, namely rates dipping slightly and Buffett dumping most of the sector.

But back to the extended pandemic issues, RVs and the entire outdoorsy space is still a legitimate theme well into autumn. Thor is one such play, below on its weekly chart, as are BC CWH PII WGO, among others. You can be sure that lockdown fatigue and sheer boredom and antsy feelings will spread to just about everyone before this is said and done. I do think the idea of sitting around and watching AMZN Prime and NFLX is taking its toll, and sports are not coming back as hot as many thought. 

Thus, the great outdoors should be a viable option until winter comes.