NFLX: Pre Earnings Run
The speculative gains of what we call a “pre earnings” run ended ahead of the market open on Friday. Netflix is reporting an increase in the number of users but had a decline in revenues, which is a worrisome pattern that is occurring in many big-name companies thus far—many banks and the early tech stock reports. NFLX was being sold on the professional side ahead of Friday's open and was down about 3% in the premarket. How and IF the HFTs trigger to the downside on the earnings news this week will tell us what to expect for other stocks with similar earnings to revenues numbers for the 4th quarter of 2018.
Martha Stokes, CMT
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