The Najarians blew this one when they recommended buying these calls on CNBC — they just ignored the downside risk due to China trade issues. Their recommendation to buy was purely on technical grounds, but they really need to think more about such an obvious political risk before making recommendations to buy options.
giovanni.urbanmyths
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CNN is reporting that traders are skeptical and do not believe Trump and see no proof that a phone call with China actually happened. They say unless there is proof the phone call happened that traders will back off on the rally. Reporter Alison Kosik says traders tell her that “It just feels like there market manipulation going on by Trump every time he tweets either to enrich himself or to enrich those around him.” Wow.
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Sucker rally?
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On CNBC, Mark Mahaney at RBC Capital Markets calling Netflix is “dead money” until this September or next March depending on whether they hit their sub numbers. He does not see a boom in the stock until next year when we see the effects of the Disney streaming launch.
The bottom line is that Netflix did a price increase with a weak content slate and lost subs. They blew it, and competition is on the way. New Netflix content coming in 2nd half will determine if they hit new sub numbers, but competition may keep people moving over to cheaper platforms like Roku which is offering free movies and a wider variety of live streaming shows.
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When you let a single headline in the NY Post scare you into selling, then perhaps investing in stocks isn’t your calling in life.
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