Today we can stop worrying about Tokyo stock market technology glitches as the Friday trading day proceeded normally. At that time it was known that Pres. Trump and his wife were self-isolating after an aide who traveled with them had come down with coronavirus.

By now we know more. The first couple are both infected with the COVID-19 bug and as an overweight septarian, our stable genius president is at high risk. If Vice-president Mike Pence is put in charge, it will help focus minds on the importance of the Democrats picking Kamala Harris who is clearly more qualified and rational than either Republican contender.

While Trump with his lies, rudeness, and incoherence may not be good for the stock market his absence is even worse. Wall Street was also roiled by a weaker jobs report for September. Amazingly I have a stock pick for the present disorder.

*To play volatility in our stock market, institutions buy puts and calls usually covering both sides of a trade to reduce risk. I also think volatility index plays (on the VIX, up or down) are not a place for retail investors. However, the main US market for these trades is accessible to us, and it wins either way from fees charged for trades. The Chicago options market is the CBOE, CBOE Global Markets Inc CBOE and I have to admit that I learned about this way of play options from a broker from Biden's home state, Delaware. It is not a pure US play as it owns stakes in some European stock markets like EuroCCP and recently added Canada's alternative trading system, MatchNow. Its subsidiary, Hanweck Associates LLC sells data on global market derivatives, a nice way to earn money either way.

It also runs courses for retail investors in how to play the derivatives market, which doesn't mean you have to take them and believe their advice.

This is a growth and value stock according to Zacks (also from Chicago) and beat earnings estimates in the last 4 quarters at an average of 8.04%. However, its revenues are subject to further successful acquisitions. It raised its divvie to 1.9% up over that of the financial sector and has a share buyback program with another $330 mn kitty. Its return on equity in the last year at 18.2% is better by a third than financial markets generally. However, Zacks rates it neutral because its futures exchanges have lost 22.3% of market share and the result is that expenses are cutting margins. Zacks expects its operating expenses this year will total $436-$444 mn, up from the prior estimate of $419-427 mn. That is a short term negative. Zacks also expects its full-year EPS to hit $5.20, up nearly 10%.

The stock is 83% owned by institutions, but they are subject to a limitation of 30% of the shares outstanding, so there is room for smaller investors. In today's downdraft the stock is down 1.3% which is modest compared to other drops. At $87.45 you can buy a round lot without worrying about capital market restrictions. Being a US outfit this is a bonus stock. More on finance below.

Tech & Tel

*NIO of China reported selling 153% more electric vehicles in Q3 this year than last, and a total of 4,708 in Sept. alone so naturally, the stock lost 23¢ or 1.1% today although it opened up 8.85%.. In fact, the Trump factor has taken down almost all stocks trading today. Tesla missed its delivery targets.

*Nintendo won its case against Switch for selling SX OS hardware and software from Team-Xecuter which let game-players avoid NTDOY fees by using it on Switch consoles. The UK court ruled in favor of the Japanese firm which will collect about $2 mn in fines. The actual maker of the pirate systems is in Ohio, an outfit called Uberchips which shut down after Nintendo began its lawsuit. Nintendo reportedly plans to sue another 8 vendors of Team-Xecuter products. NTDOY is down 1.8% here.

*MultiChoice, the Africa telco, is up another 2.5%. I think one or more emerging markets funds are buying MCHOY daily.

*Mercado Libre crashed 3%, but rose when Jefferies upped it to buy with a $1350 TP. MELI.

*Vodafone rose 1.9% on optimism about its India business now that the terrible tax toll has been cut. It will issue new shares of its VOD Idea stock and borrow there.

Food

*Canadian Alimentation Couche-Tard ANCUF is a likely winner from the renewed outbreaks of COVID-19 in the US, and in foreign markets. The current analyst forecast is for profit growth to C$2.62 in the next fiscal year (to April 30) up from C$2.15 in the last FY. The share is well backed by funding which should lead to further takeovers and organic growth in global highway stores. It is now rolling out Fresh Food in some 1500 US locations. It has a very solid balance sheet but pays very low dividends, about 0.8%. Because it is heavily present in the US (where it is the market leader in convenience stores) the currency risk for Canada is mitigated and it is also a bit operator in various European countries.

*Fellow Canadian Nutrien, the maker of plant food, rose 1.52%. NTR is a quick way out of the USA.

Finance

*One of our Japanese financial holdings is in the black as Tokyo closed before the full bad news had hit, with Sumitomo Mitsui Financial Group (SMFG) up 0.8% while Mitsubishi Corp (MSBHF) is down 0.4%.

*Hong Kong's AIG Asia, AAIGF, is a winner today up 5%. It did not trade here I think.

*American Express gained $1.39 and 1.37%. Truist Financial, TFC, did too.

Oilpatch

*BP plc BP and Royal Dutch Shell are among the oil companies contesting a lawsuit by Baltimore against them for damages from climate change at the US Supreme Court. Baltimore is not the only place in the US where suits over climate damage are pending. RDS-B is up 1.11%.

*Schlumberger Ltd rose 3.75%%. SLB is a global player in oil and gas exploration tech which is heavily traded in Paris.

*Ormat Tech ORA, Israeli owned but Nevada incorporated rose another 0.7% on its play for using its storage system to help California cut its carbon footprint.

*Uranium miner Earthstone Energy in my IRA is about the only winner in energy, up 1.9% after the firm yesterday won concessions from the government for its production of uranium in the USA, one of the final MAGA moves by the now quarantined commander in chief who wants to boost his standing in Florida by cutting offshore drilling in US southern states. ESTE got a boost as a result.

*Algonquin Power & Energy AQN of Canada is up 0.27%. Our Harry is looking into whether it can produce a tax-free return of capital (for real, not like funds do) from its 44% stake in Atlantica Yield.

Metal

*Gold did not rise despite the crisis, but British Johnson Matthey (JMPLY) which refines and sells precious metals rose 1%.

Drugs

*Compugen CGEN, an Israeli high-flyer, fell the most in percentage terms among my holdings, by 9.33%.