RealMoney

You have to come to Silicon Valley if you are going to cover stocks.

Communications sector dipping on Facebook floundering.

Today the markets were influenced by the continued disorganization in the White House (the "Orange Swan" is still flying in the air), new allegations against the Supreme Court nominee and a breakdown in trade negotiations between the U.S. and China. The Nasdaq rallied well from the gap lower in the morning as FA(A)NG -- Facebook (FB) , Amazon (AMZN) , Apple (AAPL) , Netflix (NFLX) and Alphabet (GOOGL) -- recovered.  Bonds continued weak and I suspect another leg in yields lies ahead. Oil spiked higher, gold rallied a tad. Banks were weak despite the above weakness in fixed income -- perhaps a reflection of the lackluster third quarter earnings reports to be released in the middle of October or maybe its just some profit taking. (I am a buyer on report induced weakness). Retail stocks were also downside leaders. I own Macys (M) (which is now below my buy level, though I haven't recently pulled the trigger) and Dillards (DDS) (which is $3-$4 above my buy point).

Investors are looking for instant gratification these days.

Stocks slide from recent highs but with little volatility in the action.

Traders could return to the long side of Netflix on strength above $380 risking below $340.

Volume will be huge -- and the movement in many stocks will seem quite random.

For most of this year the market has been led by growth stocks.

It explains a ton how you can rally on a day you would expect to be down.

* As if! In a different social setting, Cher (played by Alicia Silverstone) in the 1995 movie, Clueless, uses the above term when describing a girl (Amber) that Tai (played by the late Brittany Murphy) is jealous of.