This is something of a catch up post. On October 5 I added Twilio (TWLO) to my Jubak Picks and Volatility portfolios. I announced that buy in a post on October 2 and then again in my Special Report: "Your Investing Guide for the Next 6 Dangerous Stock Market Months" on my JubakAm.Com site I noted it as a buy. But somehow I never quite posted it to those two portfolios. Something I'm fixing today.
Treasury Secretary Steve Mnuchin, the lead negotiator for the White House on an additional coronavirus stimulus package, emerged today, October 14, from telephone calls with House Speaker Nancy Pelosi, to say that the chances of a stimulus package before the November 3 election are virtually nil. “At this point getting something done before the election and executing on that would be difficult, just given where we are in the level of details,” Mnuchin said. Which should be no surprise to investors and traders since that's been the reality for weeks if not months. But today, it is clear to me, that the stock market has recognized reality and has moved on from pricing in a November 3 package (or the failure of a package by that deadline.)
This morning JPMorgan Chase (JPM) reported a "surprise" jump in earnings in the third quarter. The problems in that "surprise" were in the nature of the surprise. A good part of the "surprise" wasn't a surprise.