Yesterday was another somewhat boring day with lackluster market volumes. The market volumes seems to be stealing some of the headlines and has become a focus as dog days of summer are truly starting to take hold. Have a feeling in the next few days there will be a nice 1-2%+ move in the markets. Timing it is always the key!
SINA earnings report last night, where the headline numbers look great, but profits for the rest of the year look weak. Again, that is not always the story with SINA, and folks are usually more concerned about its ability to generate revenue and how they are looking to grow profits in the future. Still have hope for my $60 calls and may add some $55/57.50 at the open if I like what i see.
SHLD reported earnings this morning with EPS in line but a revenue miss. Just like I said yesterday, SHLD rallied on gigantic volume into the close and hit a high of 57.48(i said it would hit $57). Of course my order did not fill to sell the calls. Hard to figure what SHLD will do today, but have a feeling it continues it's ascent into the 60s.
NFLX continued its move higher, albeit a little slower on Wednesday. Chart still showing a reversal with plenty of room to move. Hopefully NFLX breaks $65 and the 67.50 calls can go from red to green.
I will be doing a LIVE Q and A session tonight at 7pm. I will have the link posted in the live chat room later this afternoon.
I will be out in the morning but once again you can email at firstname.lastname@example.org for any questions.
Will likely not be adding any positions for the 2k mirror account today unless I see something very compelling. Also, want to make sure the other 2 positions are closed.
Mirror followers check twitter for updates throughout the day.
Have a Great THURSDAY!