Markets Ignoring Bad Earnings Reports, Poll Results And Coronavirus Fatigue
Earnings, earnings, earnings. Uber stock is flying after hours tonight after the company confirms the bullish case out there. Square took off today on what I thought was just an okay earnings report last night. Our new position Dynavax is down after hours, but I thought the call is fine and I’ll nibble a second tranche if the stock gets hit tomorrow. Roku’s report was strong and the mobile app download charts are impressive, but the stock is selling off a bit after hours. The most shocking thing this earnings season has been the market’s tendency to reward even just decent earnings report and to look past some awful earnings report from companies like Apple, etc. I remain cautious overall, but steadily long our Revolution names. I do believe better pitches are coming. Let’s discuss all of this tomorrow in the chat.
A couple other notes. I did a poll on Twitter this week asking:
How many of you are scared about the economy for the next couple years? How many are scared about the markets for the next couple years? How many of you are scared about both? How many of you think everything is going to be fine?
- Scared about economy: 18.5%
- Scared about the market: 2.8%
- Scared about econ and mkt: 49.9%
- Bullish, all will be fine: 28.9%
395 votes
And here’s an visual depiction of how we all have Coronavirus Crisis Fatigue, courtesy of Google Trends:
Let’s do this week’s Live Q&A chat at 10am ET tomorrow (Friday) the old fashioned way, in the TWC Chat Room or just email us your question to support@tradingwithcody.com.
