Stuff

Kuppy argues that you can make money by watching stocks enter and leave the Russell 2000.

Kuppy is good on how Robin Hood is messing with markets. Only US markets so far but …

To counter the “stocks only go up” narrative, in fact they have gone nowhere in a couple of years, with the exception of the “Giant Five.” Wolf Richer points this out, but I’m too lazy to find the link. He has also produced a post on how insanely uncertain managers are about future sales. Something not exactly surprising.

Charlie Bilello points out that tech stocks have certainly not been immune to a downturn in the past, and are (surely) unlikely to be this time.

News

Looks like cases are going up in the US, or at least the headlines signal this. Maybe the reality is more nuanced.

Late wrap (19:36 BST)

$ESTX50 and $ES down, everything else up. $ZN practically flat. $DXY up 0.25%. $GLD down 0.19%. Basically, nothing is moving. Better be theta positive. Oil up 2%, but only $39. Tankers down damn you, Kuppy!