US equities open choppy, if leaning on the positive side. VIX is a touch weak in the 28s. USD is -0.4%, printing 92.63, which isn’t far from the Sept’ low of 91.75. Gold/silver are benefiting from the dollar, whilst oil is struggling in the $40s.
sp’60min
VIX’60min
Summary
Initial positive leaning chop… partly on hopes of Pelosi/Mnuchin agreeing to something. Maybe… maybe not… for what is a wild card situation.
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notable stock: SNAP
Earnings were certainly better than expected. The company managed one whole cent of earnings.. although that was ‘adjusted’, and no doubt there ware some accounting tricks to achieve that. I don’t like the company, but clearly, the stock is m/t super strong… today breaking new hist’ highs.
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notable weakness: NFLX
Earnings were mixed. Weaker than expected subscriber growth is a mild concern.
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notable strength: TWTR
Along with Facebook, and Pinterest, Twitter is higher with SNAP.
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notable mining ETF: GDX, 60min
Miners initially higher… as hourly momentum turns positive. Broadly… price action is a mess… still leaning weak since the August $45s.