MomentumOptionsTrading.com Midday Update for 4/21/2014
Netflix (NFLX) Earnings After the Close
The day after Easter has been bearish in recent years so any gains today could be considered a bonus. The good news is the following day is usually the best day of the year and Tuesday’s have been good to the bulls, overall.
Earnings are once again in focus with 150 S&P companies reporting their numbers this week. The report card has been decent as two/third’s of the firms that have reported have beat estimates.
Netflix (NFLX, $345.28 down $0.46) will announce their numbers after today’s close. Wall Street is looking for $0.83 a share on revenue of $1.27 billion. The high estimate is $1.01 a share with a low estimate of $0.76 a share.
This gives room for a huge beat or a nasty miss and shares will likely follow suit depending on the news.
We would love to take a trade on Netflix but the options are just too pricey for us to play.
We have a lot to cover with our current trades and we are in great shape to play the market’s next major move as our portfolio is light. We should have New Trades this week if we get the clues we are looking for.
As we head into the second half of trading, the Dow is up 25 points to 16,434 while the S&P 500 is higher by 4 points to 1,868. The. Nasdaq is advancing 16 points to 4,111 and the Russell 2000 is gaining 3 points to 1,140.
Subscribers, check the Members Area for the updates and we will be back in the morning with a full report.