If the bulls buy the bad news of the Netflix revenue miss the bottom is definitely behind us. I do believe the bottom was the Christmas low and without a recession we are not likely to revisit that level. That does not mean we won't go through some serious profit taking if the tech sector produces bad news next week.
If investors buy the dip in Netflix after a revenue miss and lowered guidance, the market should power higher. There would not be much left to worry about if they remain bullish on Netflix. Microsoft, Adobe, Salesforce.com, etc are going to report positive numbers without all the drama. Futures are up +8 tonight and that is bullish for sentiment.
New positions are only added on Wednesday and Saturday except in special circumstances.
NEW DIRECTIONAL CALL PLAYS
No New Bullish Plays
NEW DIRECTIONAL PUT PLAYS
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