Still Trying to Navigate the Confusing Market #SassyMusings 4/21/14

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  • NFLX up a little right now (10 min after the close). Good earnings, good guidance and going to charge more for new subscribers soon. That should be good for the stock, but let’s see if people who didn’t get out above 400 sell into it or not. Will be a big market momo test.
  • Day started off pretty boring, but they say never short a dull market….and as we learned last year that is especially the case on low volume like today.
  • About half way through the day I noticed biotechs (IBB) at the highs which told me that risk was on.
  • As I mentioned over the weekend here, I was going to look to some bio names to get into that had strong fundamentals, but were oversold. I bought calls in MYL today.
  • TRLA was also a nice play that I was able to get before breaking out after I saw Z going.
  • GOOGL and CMG still not doing well so it’s something you should take into consideration as earnings start to roll out. I wonder if we see more CMG type moves upon good earnings. If we do, we know momo is still out of favor.
  • TAN is showing some bottoming signs, so solars might be back in play soon. Worth keeping an eye on.
  • Having said all that, I still don’t think we are out of the woods and short term trading is my preference right now.
  • Chart of the day: Which way will we break? Screen Shot 2014-04-21 at 4.11.49 PM
  • Tweet of the day: nothing funny.
  • Would love if you checked out my piece today for TheStreet. Thank you.

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