Netflix Cause for a Pump?

Could this be a Friday rally that fades in the last hour?

QQQ closed down today by (.98%). As we expected, the pivot from last weeks bear rally fueled by mass of zero day to expiration options on the SPY has resulted in another down day today. But then there is always some form of HOPE that creeps in.

This time it maybe NETFLIX earning report. Everyone is so excited about their New Subscriber acquisition that blew the street projections away. 7.66 million vs 4.57 million that the Street had projected. (This part is sarcasm) Why aren’t the headline celebrating their earnings? Are earning irrelevant? Similar to the Dot Com bubble, earnings don’t matter? You just can’t pass up the fact that they came in with EPS at 12 cents vs 45 cents. Consider that their margins of 7% are slim. If we do go deeper in to a recessions, those margins are going to tighten up like a kids butt cheeks before gett’n a whoop’n.

On the other hand, this may be a buy on the rumor and sell on the news event tomorrow. Don’t get sucked in to a false rally.

Have a good evening.

Live Loud!

Trent

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