Last week I blogged and broke down the Rise and Fall of Netflix Stock. Perhaps I should have waited till after earnings as Netflix is getting crushed in post-market trade. The stock is trading under $90 a share after closing above $118. Terrible guidance for Q4 and lower subscriber numbers are in focus. SS below.
The market had another nice follow up session, climbing higher with the NASDAQ closing above its 200 MA for the first time since August 1st. Earnings season overall has been a bit weak from what I gauge with some major names missing overall but the market has shown strong resilience and climbed higher despite (a positive sign). The market may very well be climbing higher off stronger speculation that Europe with finalize its latest creative band-aid to delay the inevitable for another 1-2 years.
Interesting Read of the day – Home lending revamp planned (WSJ). “The overhaul will, among other things, let borrowers refinance regardless of how far their homes have fallen in value, eliminating previous limits.”
