After hours GOOG is down over $40, MSFT also reported and the stock is down slightly as well, how can the futures be holding up this well is BEYOND me. I can guarantee you that if the GOOG was trading near $600 tonight Futures would be up .5-1% tonight. Contract Last Change CME E-mini S&P 500® 1558.50 -125 CME E-mini NASDAQ-100® 2061.75 -375
Thats still nothing considering where GOOG closed tonight. I really think these markets push alot higher tomorrow, the market is going to brush off the $40 slide on GOOG and break more records tomorrow. I think the dow closing above 14050 tomorrow should be no problem. IF this market does trade higher after this GOOG report tonight any earnings that dont show great results will not matter to this market, it will be straight up to 15k by the end of September.
I saw where Google missed and watched it a little AH just to see what would happen. Slid from -17 to -40 in a nice orderly fashion. Now, I don't generally daytrade or trade afterhours, but that seemed like a pretty easy trade. I would have thought it would have just blownup and dropped like a rock too fast for most to catch it. Is it always that easy?
You are missing the point, NQ futures went from +10 to down 4.00 or so on the news. That is a swing of 14 NQ points on just one stock earnings. GOOG is only one component of NDX or Nasdaq 100 so for it to tank the futures 14 points or so is quite significant. Look at it again.
"Quite significant"? That's no break at all. I remember GOOG missing early last year and NQ was -25 immediately. Plus MSFT. NQ's biggest component was also down AH. Jeez, I've seen INTC and CSCO have numbers out of range and move futures 40 points. The world's short. I'm short and obviously many here are also. Not good news for bears. Too many of us.
What's there to be confused about? Todays action implies underlying strength in the markets. I'm buying long and plan to stay long for the foreseeable future. Dips are opportunities to add to long positions. As for the short sellers who scream "the sky is falling" on every little pullback. Please keep on short selling, because it's your short covering that's been making every price spike into a new high.
READ THE NEWS ON GOOG. It is not bad news. They expanded in hiring and had more cash flow go into advertising. THEY ARE EXPANDING. This cost money. Googl's guidence is not bad either. Those short GOOG are going to be very unhappy. Nasdaq, is Dead. Period. NDX isn't worth me watching with the low % moves compared to the INDU and S&P. Goog. is still a solid stock to trade and is one of the only NAZ stocks that makes sense to trade in and out of. So play both sides. Goog is keeping daytrading alive for the true "equity" daytraders.
We are not talking about 2001 here with 40 point NQ moves. Nowadays 15 point swing is relevant for NQ. The point was the market did make a significant move solely based on GOOG earnings. I was not commenting on the broader market, just answering the comment that you cannot just look at NQ being down 4 points as a refelction of GOOG but that it was up 10, thus a 14 point swing. Whether it is significant for the whole market that is another question, but for those 20 minutes it was pretty relevant lol.