Daily Archives: April 22, 2013

NetFlix Blowout

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Well, my one (count ’em, one) NFLX put is going to get clobbered in the morning, now that after-hours trading shows NetFlix exploding higher by about 16% as of this writing. During my TastyTrade show, Tony expressed convincing bullishness for NFLX, which I confess spooked me a bit, so I reduced the size of my short substantially. Needless to say, I’m glad I did. This one has become a monster again.

Tinted below is approximately where it’s trading right now.

0422-nflx

Friday’s Advance GDP Projections and Gold

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The Advance GDP q/q estimate for Q1 of 2013 is forecast at 3.0%, as shown on the graph below…up from the 0.4% revised data reported for Q4 of 2012…and it is being released on Friday, April 26 at 8:30 am EST.

As you can see, the GDP numbers have been in a downtrend from January of 2010. If such a rise were to occur as forecast, it would penetrate above this trend, but would still lie within the 3-year range. It would take a higher number for the next quarterly report (for Q2) to confirm that the current downtrend has, in fact, been broken. (more…)

A Modest Proposal

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There was a cliffhanger close on Friday, with ES having tested but not broken over declining resistance from the high. Overnight ES has broken over that and I am expecting to see some follow through to the upside. as I mentioned on Friday Morning, this could be viewed as a falling wedge and in that case the technical target is a test of the highs, but wedges aren’t good at making the full target, and there is strong resistance in the 1570/1 area:

130422 ES 60min Break Over Declining Resistance (more…)