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Daily Option Trading Commentary

CSX Is More Important Than NFLX - Q3 Guidance Will Determine Direction

July 18
Posted 9:30 PM ET - Yesterday the market retreated slightly and it wiped out recent gains. A light news cycle favored momentum and stocks floated higher last week on light volume. There is no conviction and traders are waiting for earnings results. Q3 guidance will determine market direction and we will have more clarity in a week. Netflix posted its first decline in US subscribers in years and slower than expected international growth. The stock is down 12% this morning and it shows that tech stocks are vulnerable. I view Netflix as an independent story and it doesn't really affect…

 

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