One day in the future, perhaps tomorrow, perhaps in 2025, this historic bull market will come to an end, and the 'massive' Central Bank infused debt bubble will burst like an over cooked Empanada. It will be oily, it will be messy, and those not fighting for whats left , the scraps of meat and bits of the crispy outer shell, will be faced with the reality of life without empanadas.
Good morning. Futures are bouncing this morning, and have now recovered 50% of yesterdays afternoon decline.
What started out as a modest to moderate decline, accelerated to something just a little more as the session came to a close. Yet the Nasdaq and the Russell ended the day in positive territory while the Dow and S&P500 ended down in a modest fashion.
Earnings season is now under way. Last night $NFLX reported earnings and hit a new record high, but the move was well under the move the market was expecting. This morning the stock is set to open marginally higher, giving the option sellers the win on both sides of the chain. Historically Netflix has offered some tremendous out of the money trades into the report.
