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Hedgers Active As Stocks Languish (At All-Time Highs) On Low Volume
The high-beta honeys were not amused (despite another melt-up in NFLX into earnings) as the Russell 2000 underperformed (-0.25% on the day). The Dow and S&P ended practically unch, Nasdaq bid (helped by AAPL ahead of the product news tomorrow) and Trannies closed their highs of the day exuberating all the way... Treasury yields rose 2-3bps (steepening). FX was quiet with the USD very slightly higher (helped by JPY weakness) but AUDJPY was in charge of S&P 500 trading today. Oil dropped 1.6% closing back under $100 (first time in over 3 months) and Silver rallied 1.3%. Hedgers were active (6though clearly the selling was limited) as credit spreads and volatility markets saw protection buyers active.
Equity indices were quite notably divergent today...
But it was clear that macro overlays were being laid out once again in credit...
and in VIX...
Bonds quietly limped higher in yield but FX markets were dead...
with only AUDJPY (JPY weakness dominant) leading stocks...
Charts: Bloomberg
Bonus Chart: Apple catches up to Gold ahead of tomorrow's product announcement
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NFLX and VMW gapping up, NFLX ridiculously so, after hours. More of the same.
up 17% on 3% quarter over quarter revenue growth and 2% QoQ operating cash flow growth. Orange is the new black!
on par with the way goog got rammed up...
I be damned...even oil knows we're moving into the next phase of the drepression.
The guy in the cubicle next to me - who is learning options trading from another guy here at my TBTF bank - likes NFLX.
so do guys here at my TBTF bank as well.
Funny, I heard Blue Horseshoe loves Anacott Steel.
Where is the quarterly NFLX bashing article this time?
Say whatever is to be said about Netflix valuation. As far as providing a service, it is doing a great job. Arrested Development, House of Cards, The Increasingly Poor Decisions of Todd Margaret are themselves worth more than the price of the service. If any stock ought to be worth a high price it's Netflix.
Fuck Netflix and all the intellectual smurfs addicted to it !
Yeah? Well, I say fuck autistic savants.
you actually pay to watch "arrested development"?
Ads for Arrested Development induced me to take the service. I take it from your comment that you dislike Arrested Development, and that's ok. Shows like 3rd Rock or 30 Rock or whatever it is that you like need viewers, too. Carlin needed an audience, and he got people like you. The Matrix needed impressionable lunatics, and they got you. Fight Club needed a cult following of sexually frustrated and confused post-adolescent narcissists, and they got you. Face it, you're a mess, and you've got no taste.
seriously? Only idiots watch TV. Get in a gym, get on a treadmill, pump some iron. Get outside and turn the propaganda box off. You're wasting your time watching these douchbags "act" on TV.
....and maybe read the covers off some classical literature. Humans are an odd breed , no wonder they are all doomed.
The biggest powerload of human waste is time.