Conversations with Jaguars – September 24 ($NYMO, $ZNGA, $AYI, $WBK)

We are at a juncture where the S&P is now at major VoP support and market internals are at the weakest level with NYMO at -79. In a healthy trending market, this is where bounces happen. But when internals are as weak as right now, this is also a spot where major crashes can happen especially when there is a pile of headline risks stacked against investors (SCOTUS, mail in ballots, elections, riots). Keep these thoughts in mind. In terms of specific stocks: Bull case discussed for $ZNGA that has a bunch of new games coming out. Bear case for $AYI with channel checks weakening. Bear case for Australian bank $WBK with net interest margins coming under pressure.