Plus it re-tested the lows of last week's flash crash and turned back up.
I dipped my toes in at 14.38. Now would be a great time for a big announcement to drive it back into the 20s. :)
Seems to happen every day, EOD selloff that makes it look like the S&P will take a dive the next day, then magic green futures overnight, followed by another round of selling through the same price points. You have to wonder...is it really the Fed juicing the futures, or institutions who want to keep selling through the same prices, figuring it's cheaper to boost futures every night than to sell billions into a downtrend.
Maybe you can't believe it, but that doesn't mean it isn't true. Yes, they *can* have this much power. I've seen this game played over and over and over with stocks similar to this: small or mid cap with low volumes and a small float, and a company with a good story to lure in buyers (either because it just sounds good, or actually is good - doesn't matter). When you see a stock like that with a very high short interest, that's a red flag that it's a highly manipulated stock under attack.
The high short interest gives shareholders dreams of a short squeeze on the next exciting PR, but what usually ends up happening is that rallies get quickly snuffed out, because the shorts are hedge funds that are firmly in control of the share price. If you look closely at the trading activity, you can see the same games being played, on very different stocks with those common characteristics.
As for your confidence that the SEC pays attention to these games that happen on a daily basis and intervenes to protect the little guy from getting suckered and fleeced, that's cute. They get involved in major scams where powerful people with political pull get burned, not in day-to-day price manipulation shenanigans. Look up the term "iron triangle".
I guess that's it, then. We have our answer. An endless bull market can be sustained by central banks regardless of economic considerations. Three weeks of a continuous uptrend through bad earnings and multiple indications of stalling economies around the world (kicked off on the day of a poor jobs report, of all things), then one bad day, and all it takes to drive it up in almost a straight line the next day is totally expected news that the ECB is going to maintain the same policy it already had in place that hasn't been working (as if anybody expected them to raise rates with the economy slowing and this was a big surprise).
I guess it's just going to keep going up forever, huh? Every dip will always be a great buying opportunity.
Because they're admitting that their costs are getting to high to continue undercutting the increasing competition by so much, which is their main advantage in growing their subscriber base?
I've never seen such an overhyped stock in my life. All they have to do is issue a PR saying that Reed Hastings sneeze and the stock skyrockets for no reason.
When Apple had to raise the price of the iPhone, their stock tanked hard. But these guys just have to raise their prices - a move any company can do at any time and is hardly an indication of success or improved fundamentals - and the stock shoots up by 10%.
"He said I had the fastest recovery time he has ever seen."
I guess your doctor hasn't looked at an S&P 500 chart in the last six years.
Like clockwork. It already started, immediately after AH trading ended. Every freaking day. Index futures are nothing but a tool for manipulating the next day's opening price anymore.
Because the market is in a bearish trend that's about to turn sharply downward again, and momo stocks with high valuation tend to get hit the hardest when that happens.
In a bull market, the prices of stocks with a high profile and high expectations of of future potential tend to get inflated, and when the market turns bearish, all that air comes hissing out.
BTW...I'm not quite ready to call this a true bear market yet, but you can bet that at the very least we have yet to see the bottom of the correction. Staying long large caps at this stage is foolish, especially ones with very high valuation based largely on future expectations rather than past performance.
I don't see any positive news, not even hype news. And don't anyone even try to tell me that this stock isn't grossly overvalued. The only article I see that even sounds positive is "Netflix’s Grand Ambition: Become Bigger Than Disney". What, all they have to do is *say* they want to become bigger than Disney, and the stock trades as if that's going to happen when there's no reason to believe that's likely?
Oddly enough, September and October puts are up even while the stock price is up. Is this a fake pump to lure in bagholders before the big dump?
Why? Because you have a long position and you want it to happen really, really badly, or is there a more specific reason?
And here I was fuming because I was having a great day shorting NFLX, went to get a cup of coffee, and came back less than 5 minutes later to find out that 75% of the profits on my puts were wiped out instantly. At least I made some if it back by going long for a few points, but I didn't stick with it long enough because I didn't believe that this BS rally was sustainable much past 110. As I was selling out, a voice in the back of my head kept telling me "No, don't do it! Just sell half and ride the rest to the bell. This is NFLX, the stock that can keep going up and up and up and up for no reason."
So now I'm kicking myself. But thanks for reminding me how much worse it could be. At least I came out ahead. I'm still feeling disgusted. What a crock.
You'd think, wouldn't you?
But in a real market, after a day like today, futures would be down 20 points instead of up 12. If this holds up, the entire day's losses will be reversed at the open. Maybe they're being cranked up artificially in order to sell again through the same price points, but in recent history these overnight futures pump jobs usually have follow-through.
Especially ones who completely disregard the actual topic of the message boards they post on and use any board they participate in as a soapbox for incessant preaching and polemics over their personal hot-button issues
In other words, you're going to stop posting about the actual topic of this board altogether, and devote yourself exclusively to wasting everyone's time, especially your own, posting simple-minded off-topic drivel in order to stroke your ego and feed your delusions of being an intellectual and a rationalist while all you do is uncritically parrot what was spoof-fed to you by the Massachusetts school system.
I think that may be the first time Bernanke has ever been right.
That the ice caps are melting is not nonsense, and this prediction is a completely reasonable one. It's only people of the converse religion who knee-jerk to deny things such as the overall warming trend, the melting of the ice caps and glaciers, and rising sea levels, for ideological reasons.
The irony is that people of your religion, in denying the plain facts, are tacitly accepting the false narrative advanced by the HGW religion, and simply denying the facts, which is why you're written off as ignorant kooks with no credibility.
A better answer to stories like this than covering your eyes and ears and denying that it's happening, is to point out that the warming trend and the melting of the ice caps has been progressing, in fits and starts, over the course of more than 10,000 years, not just since human industrialization, and that the rate of warming has at times been significantly faster than in the last 150 years. Also, that there's good evidence that this is not the warmest period in recorded human history.
LOL, those people know the sheep of their flock well.
By "those people" I mean the tabloid press, and by "sheep of their flock", I mean you.
The headline, "On the dole: Report: 87% illegal immigrant families on welfare, 72% of legal immigrants on it", reported by the Washington Examiner and parroted by Fox "News", is an absolute lie (in some ways it's a distortion, but in other ways it's an outright lie), and THEY PROVIDE THE DATA TO REFUTE THEIR OWN LIE IN THE VERY SAME ARTICLE, but they rely on you sheep to simply read the headline uncritically and believe it because it conforms to your ideological leanings.
Three main things wrong with the headline:
1. The present tense phrasing implies that those are the percentages currently on welfare. In fact, the percentages in the report are people who used government assistance programs in 2012. First, unemployment was higher in 2012; current percentages are down across the board. Second, and more significant, is that those percentages don't even reflect any given point in time in 2012. They're the percentages who accessed any assistance program at any point throughout the year. The percentage using any program at a given point in time is significantly lower than the cumulative percentage over the course of the year. One might as well take the percentage of people who have ever used a program in their lives and say that's the percentage that's "on" the program - that follows the exact same reasoning!
[Continued...it gets worse!]
Copy/paste error in splitting up the post...here's what #2 was supposed to be:
2. "On the dole" and "on welfare" are misleading, because they tend to imply cash assistance, but those are cumulative percentages of people who have accessed any government assistance program. The majority of the percentages come from subsidized school lunches and Medicaid. The percentages of households receiving cash assistance are 13.1 for legal immigrants, 5.2% for illegal immigrants, and 12.8% for households headed by someone born in the U.S., among households with children, and for households without children, the percentages were 14.1, 3.5, and 8.1 respectively. For foods stamps, the percentages are 28 (legal immigrants), 31 (illegal), and 26 (born in US) for households with children, and 14.8, 8.7, an 11.0 respectively for households without children.
Hey, did you forget about our bet? VXX went back to 30 before October. Your new nick for posting on this board is bobloses_o_phile. You wouldn't squelch on a bet, would you, Mr. Oh-Yeah-And-I'm-So-Sure-Of-Myself-I-Also-Want-To-Bet-Fifty-Thousand-Dollars?
I was just about to post, but looks like you already did. I agree, there's no way there'll be a big collapse tomorrow with SPY max pain all the way up at 202.5. There's already been one collapse that burned options writers badly. It won't be allowed to happen again. I'm expecting futures to be cranked up overnight. The time to short is next week.