Trader Mike

As you all know by now, Mike is back now to bring order and sanity back to his blog site. I have had fun peppering his site with my thoughts, opinions, and notions. Thanks everyone for your feedback and participation in the madness. Big thanks to Mike for trusting in my pen!
Moreover, Mike’s real plan [...]

This just out from briefing.com after NFLX reported earnings:
“17:46 ET NFLX trades down to $11.00 upon resumption of trading”
‘Nuff said!
Update (by Michael):
I thought I’d add a chart of NetFlix’s after-hours trading:

The action in this stock over the last 2 weeks or so is a trip. Duru covered the irony of their earnings report the [...]

GM reported poor earnings results this morning. I was struck by the following quote from a WSJ report on the results:
“But GMAC, the company’s home and auto financing unit, has helped to pick up the slack. Net income for the unit was $656 million in the third quarter, up from the year-earlier’s $630 million, as [...]

It was easy to get excited last week with break-outs, new 52-week highs, and the like because the market has been waiting for a pre-election rally. Supposedly, history is on the side of the longs in the period before an election. Ever since the market first leaned back, the historical trend has reneged on one [...]

I have been so used to commodities running like the bulls of Pamplona that I almost missed the following red flag in briefing.com this morning:
“Copper (132.40 -12.40) prices plummet the most in eight years as signs of slowing growth in China surface.”
It is of course far too early to call the top, but news like [...]

I neglected to note yesterday that the stocks of various flash companies have suddnely fallen out of bed. See SNDK, FLSH, and LEXR for example. I have not found any obvious news, but please note that SNDK reports earnings this week. Perhaps something in AMD’s report last week alarmed flash enthusiasts?
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UTSI got another downgrade today as reported by briefing.com. This one is pretty vicious:
“9:20AM UTSI estimates still too aggressive — WR Hambrecht 18.06: WR Hambrecht believes UTStarcom (UTSI) mgmt’s 2005 guidance and Street estimates are still too aggressive. The co’s most critical near-term challenge will be to enhance the margin profile of the Audiovox [...]

We have gone from “lean back” to “steady advance,” and now we will quickly examine how hard the mighty can fall.
Lone Star Technologies (LSS) made a “stealth warning” late Friday. This hot performer seemed poised to challenge 3+ year highs just a minute ago, and now analysts are climbing all over each other to downgrade [...]

Every now and then, I stumble upon a very interesting situation. MFLX just happened to be the top-performer of the day in my little scanning universe - up 16%. I don’t always look more closely at this kind of hyper-activity, but I found an interesting set of stats on this one. Warning - this list [...]

In all my earlier excitement, I completely neglected to call your attention to the good ol’ Advance/Decline line. (Sorry, I couldn’t find a quick on-line link to the chart! For you TC2000 fans, check out T2100). The A/D line clearly broke out in September from a near year-long trading range to new 52-week highs and [...]