Just so we can all take a break from obsessing over NetFlix…….I wanted to point that that the USD/JPY, in spite of the G20 news this weekend, seems to have double-topped.
Slope of Hope Blog Posts
This is the heart and soul of the web site. Here we have literally tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. You can also click on any category icon to see posts tagged with that particular category.
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.
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…)
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: