Offsetting Stocks

The NFLX earnings selloff, combined with some weakness in JKS and even ZM this week, seems to be more than offset this morning by extreme strength in SNAP after its own earnings. Up a whopping 30% as I write this, the market clearly thinks it has been severely misplacing SNAP in some way, shape or form. And that strength is spilling over into FB as well as SNAP's peers in the form of junior social media names like PINS TWTR. 

While that segment of tech certainly remains promising longer-term, as I am long TWTR as an investment and continue to hold, the reality is that the market is still waiting with bated breath for an actual stimulus deal.

And given how much politicians have been talking up the prospects of an imminent deal being struck this week (likely a function of them being keenly aware that they do not want to spook markets so close to a general election), the stakes become all the more elevated to deliver the goods soon. 

If not, the market may very well realize that it has been played for a fool and is not likely to respond kindly. 

On the recent IPO front, SNOW is finally getting some nice traction, a setup we discussed both on my main Twitter feed and with Members yesterday. With this in mind, let us now keep an eye on PLTR, another recent IPO, to get going for a quick pop as we await more stimulus deal jawboning.