The Nasdaq notched a record high Thursday, buoyed by a rally in technology shares following a batch of upbeat earnings reports. As I said, the bar is very low for earnings so they are easy to beat. The market knows this and just bids things up anyway.
Shares of NFLX soared 18% today and GOOG blew it higher by 12% in the aftermarket, so expect a good day from the Nazzy tomorrow.
Somewhere in the great stock market galaxy, there is guy that has been short NFLX from $75 thinking that at some point it would come down. Maybe not, but you get my point. Never let a small loss bankrupt you. Take the loss and live to fight another day. You will always make it back.
I was commenting on CNX today on Stocktwits and a guy said something like “when will my pain end”? Well if he is asking that question then he’s playing this game all wrong. When something gets hammered everyday with no let up, you MUST sell.
Its not about being right, its about monetizing your trades and keeping losses SMALL.
Anyway, tomorrow is Friday and we’ve had a good month so far. Please check the P&L as I have adjusted stops again.
Rest well, see you in the morning.