Wednesday Market Wrap

{+++} The market took a day off and its interesting to see how many good earnings reports are getting faded lately . NFLX got crushed after a good report  last week, AEGR beat the estimate and guided higher , but after a nice move in the pre market this morning , it ended up closing down about 10 bucks. Even Facebook (FB) ripped after the market closed(up 6-7) but is now flat.

I don’t know if its a sign of market weariness or not, but the deeper we get into earnings season we are seeing more of this. Even AAPL had a give back after their earnings report.

Other momo names are getting taken down like LNKD which was down 10% or $23 today. YELP has been weak after earnings. Basically there were a lot of individual names that got hit about 1o% r more. I saw a lot of biotechs getting hit like QCOR, BIIB & CELGIBB was down $5 or 2% today. CLDX continues to act poorly and they report on Monday.

Earnings can be a bitch, and I’ll be happy when its over. See you in the morning.

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