Earnings season continues to drop bombs. Netflix issued earnings last night and they were a disaster. Subscribers were -200,000 versus an estimate of +2.7 million additions. This has not happened for over a decade. To put it in comparison the last purge of subs was when they split the business into DVDs and Streaming. Now in fairness 700,000 of the loss was due to pulling out of Russia. This still leaves a massive miss. Tonight CVNA issued a bad quarter but some comments on the conference call made the shorts cover. I am leaning toward the numbers and will avoid or short this one. ASML earnings last night were very good. Now the good news is with earning behind them more larger fund investors will look at investing in it. They do not have to worry about uncertainty. Tesla earnings were excellent across the board. Earnings and revenue beat and they are rolling out Robotaxi by 2024 . As far as action technically today we saw the nasdaq open up higher only to lure in retail and sell. I am not so sure we are going to break right away. When indexes try to bottom, key word try, The have several failed breakouts and breakdowns also fail. This is exactly what is happening. Focus on the key levels on the charts below. We are heavily weighted in Energy and commodities. I see no reason to change our stance. Let’s get to it !
📈 Earnings Season Continues💣
📈 Earnings Season Continues💣
📈 Earnings Season Continues💣
Earnings season continues to drop bombs. Netflix issued earnings last night and they were a disaster. Subscribers were -200,000 versus an estimate of +2.7 million additions. This has not happened for over a decade. To put it in comparison the last purge of subs was when they split the business into DVDs and Streaming. Now in fairness 700,000 of the loss was due to pulling out of Russia. This still leaves a massive miss. Tonight CVNA issued a bad quarter but some comments on the conference call made the shorts cover. I am leaning toward the numbers and will avoid or short this one. ASML earnings last night were very good. Now the good news is with earning behind them more larger fund investors will look at investing in it. They do not have to worry about uncertainty. Tesla earnings were excellent across the board. Earnings and revenue beat and they are rolling out Robotaxi by 2024 . As far as action technically today we saw the nasdaq open up higher only to lure in retail and sell. I am not so sure we are going to break right away. When indexes try to bottom, key word try, The have several failed breakouts and breakdowns also fail. This is exactly what is happening. Focus on the key levels on the charts below. We are heavily weighted in Energy and commodities. I see no reason to change our stance. Let’s get to it !