This is something I never thought I would see

BY ANDREW GIOVINAZZI

February 5, 2025

Yo Pit Crazies,

Day 2 of the Tariff Tantrum and most of the angst seems to be gone. Mexico and Canada get a 1 month reprieve from them and China gets a 10% kick in the shins. But for now stocks went the other way on Tuesday and that way was up.

We did get a nice VIX close with VIX9D closing 17 and VIX 17.19. Considering Monday was supposed to be limit down this is quite a turnaround. Given all of the action happening at the White House traders are willing to let VIX drift lower. Having a quiet up day will do that.

There were some big earnings with Advance Micro Devices (Ticker: AMD) and Alphabet inc (Ticker: GOOGL). Traders did not like either announcement. Both stocks were down even with GOOGL showing a 26% rise in the earnings to $26 billion in a quarter. That is big growth. GOOGL was a $130 stock in 2024. I think it would be hard to get back there. There might be puts to sell in GOOGL tomorrow

This is the thing I never thought I would see.

Snap Inc (Ticker: SNAP) is up after earnings, GOOGL is down

After watching SNAP for several, seems 10 at least earnings cycles, I can never remember one that The Street liked. SNAP never made my Longshot list because it never had a positive earnings report that held the level. The stock always died. This might be a viable stock if the Option Fingerprint is healthy. More on that this week.