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index dailies... COMPQ tryin desperately to make nATH as SPX/INDU/TRANS did last week.. just 15 points short .... RUT also just no nATH last week.. sooo close
EFA, EPP basically flat. EEM, EUFN down a bit less than -0.5%.
Foreign markets have been a tailwind for the past week or so, even stronger than our markets. And China disappointed majorly, overnite, in some financial/banking fashion... major indexes there were down 3-4% in a mini flashcrash, before recovering.
Looking like everyone is keeping their powder dry for tonight when the ultra critical new subscriber number is revealed. I see a strong parallel with the Shale drillers. They borrow money for wells that may never cover the debt but as long as production keeps going up people want in. Netflix borrows tons of money for new content that may or may not ever generate enough revenue to cover it's cost but as long as the subscriber number is up and to the right no one cares about profits or future liabilities for contracted work. I don't trade Netflix because it has a faith based valuation and I don't have the chart skills to understand that. But I do know how to chart that type of stock when the faith goes away, it is called a waterfall collapse. The rebounds are vicious but the drops are spectacular.