Actually looks like MFI is still headed to oversold.
I guess we're shifting into tech. Not sure I really want to bet on NFLX earnings though. Gotta assume it goes oversold before market open tomorrow, and NFLX dictates teh gap direction.
Comment
⋅
MFI now touching oversold.
Comment
⋅
I'm not bullish on NFLX earnings, prob just gonna stay cash until tomorrow. At least I made some money this week. Tough market to trade.
Can;t recommend shorting anything with NQ MFI oversold either.
Comment
⋅
NFLX earnings this afternoon, TSLA tomorrow. Quite frankly I'm not bullish on either one.
NQ is oversold though so if it gaps down tomorrow, I might take a stab at something like AAPL. Normally I'd go long here, but I just don;t trust NFLX
Staying cash for now.
Comment
⋅
Oversold now, but algos aren't buying in yet. Maybe they're anticipating the gap down so they can buy cheaper.
Comment
⋅
It's almost like the big boys turned the NQ algo off. Strange.
Comment
⋅
NFLX missed, after initially dropping 10%, it's down around 2% now. Not enough to cover options premium which is why I didn't short it. Of course if you did buy puts, you could have bought stock AH and exercised your puts. I've done that before, though not lately.
Futures only slightly red, market could still rally, but I doubt it gaps up tomorrow, so I didn't see a point in carrying a long position overnight. Like I said earlier, I'm not all that bullish on TSLA earnings either.
Comment
⋅
Must be a bull market, NFLX missed on subscribers and guidance sucked but it still managed to go green AH. I'd be kinda pissed right now if I had bought puts.
Comment
⋅
NFLX went red again (as it should), NQ gapped down after the break. Probably fills overnight, but I'll post a plot tomorrow if it doesn't. More whipsaw regardless, lol.
@hungry_hippo curious on your medium term views for the market, looks like from what I have seen posted you are still expecting S&P to fill the gap at ~4,220 which I assume will drag the NAS up with it, after that continuation of the bear market or do you have higher targets in mind?
jordandotdev
⋅
Honey the car payment doubled cancel the Netflix!
hungry_hippo
⋅
@jordandotdev, I don't anticipate them doing well. Otherwise I'd go long right now. Judging from market movement, I might not be the only one bearish on NFLX
BoomerMo
⋅
I think I'm staying in as long as AAPL is still moving. I did noticed RTY is up against resistance and 3- and 6-month yields are still going up. Interesting dynamics today. The attempt to close this morning's gap is kinda scaring me though. Reminds me of the fact that traders shrugged off the retail news in half a day. Could be this bump only lasts half a day as well knowing SmartMoney.
BoomerMo
⋅
Well, I got stopped out of both my trades already. What a HUGE disappointment today turned out to be and it's not even 10am yet.
jakslo23
⋅
@BoomerMo, you have to play this market 2-ways, otherwise you will be always disappointed. We are nowhere near to times when you could open long and keep it open for a year.
@jakslo23, I was looking for 24-48 hours! Market couldn't even manage that. I should have just taken the money on the gap up. Nothing has 24-hour staying power anymore it seems.
jakslo23
⋅
@BoomerMo, what can I say, big banks and brokers noticed how much more money they make with all the volatility, so they might keep the market this way even for years. Either play their creepy game, or do yourself a favor and keep your money elsewhere until more stable times come.
hungry_hippo
⋅
@jakslo23, algos are pretty much working the way they usually do. VIX is down and the movement is actually slowing down, and it looks like a slow melt up. Small caps index is the only one with volatility.