Thursday, January 23, 2014

Pre Opening: Futures Down, NFLX & EBAY Up

Another day begins in the range bound stock market roller coaster. Today NFLX is gapping up huge  on last night's news of earnings, subscribers and possible pricing plans. EBAY is up on news of a Carl Icahn stake and demands to spin off Pay Pal. The S&P 500 futures are down and IBM will not go gently into that good night as it sells its server business to Lenovo. Here are some charts:

BIIB tried to follow through on Tuesday's breakout but was knocked back down. I'm trying to hold on. This morning BAX fell on news that BIIB's drugs are making big inroads on Baxter's Hemophilia drugs.



EBAY Carl Icahn green mail to the rescue?




IBM Got hit early yesterday but gave the shorts a battle closing strong. Lets see if it can take out yesterday's low and then major support. Will the sale to Lenovo make investors think that IBM is serious about turning things around? Or will investors want to see a new successful strategy? Still a tough short on a tight leash.



MDSO Clean breakout for this thinly traded stock


FB Fake Book pulled a fast one yesterday. An early morning breakout was orchestrated by some smart ass institution in order to create a high volume buying frenzy, into which the big money sold their position in size under cover. Touche! You got me. I bought in but sold immediately for a loss when it fell below the breakout point. I would rather take the small loss than wait for some artificial number like say the 8% or so that O'Neal says to use. I can always get back in and FB is back in the base, not busted. Set your price alert at yesterday's high.

 
 
NFLX Squeeze again. Will NFLX make and hold new highs as it gaps up and squeezes the shorts once again?




$SPX in tight volatility squeeze. Still range bound




BIG Capital Advisors and Seaview Partners are not responsible for your investment decisions. We believe very strongly in our opinions, but you must perform your own due diligence in making your investment decisions.
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