Markets are negative this morning despite several upbeat earnings reports from Baidu BIDU, Visa V, F5 Networks FFIV, & Facebook FB. Facebook surprised the street as well as the options markets after issuing a 62% jump in revenues. The OTM weekly calls were trading pennies last night and will be providing upwards of 2000% gains off the open.
Major newswires are citing global fears as the reason for the recent bearishness. China announced further stimulus which didn’t do much to stimulate the Asian markets last night. Jobless Claims came out at 8:30 AM showing a slight increase in the number of claims but futures haven’t reacted much off the news.
Lots of earnings reports to sift through this morning guys so make sure you do your homework and find the ones that have reacted significantly during the afterhours session. This will help you build your watchlist of what you want to trade in the next few sessions. Starbucks and Amazon are reporting afterhours.
I’m currently long a shit ton of call contracts in Apple and lamenting the fact I don’t have the same position in Facebook!
GOOD MORNING YOUNG WORLD!
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