10am update - minor weakness

US equity indexes open a little weak, but another latter day reversal looks extremely likely. New historic highs in the Dow/SP' look a given. Metals are mixed, Gold +$1. Oil is a touch lower, -0.2%... but seemingly due another net daily gain.


sp'60min

Summary

So... minor weakness to start the day... but it surely won't last.

Market appears in a particularly good mood - not least with 3 IPOs this morning, and most indexes look set for a third consecutive net daily gain.

Tomorrow is opex of course, so... increasing chop appears due.
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Notable strength... NFLX +13% into the $530s...

Much like AMZN, now its a case of 'who cares about earnings... we got more sales!'

By my rough calculation.... AT $530.. the PE is now around 275/300 or so... depending on what outlook for the year you might assume.

What a bizarre market.
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*I remain long TWTR from yesterday afternoon, am seeking the $53/54s within the near term.... but post earnings 57/62.

Yeah.... I'm meddling in momo stocks. Clearly... the end of times.