Elazar Advisors, LLC
Earnings Reporting Net Net Bullish For Markets: AMD SNAP EA WDC
We've been saying that net net bad earnings, stocks can hold despite bad news.
AMD reported, beat and guided down. Not good news. I wrote yesterday (to subscribers) there'd be a miss but thought investors wanted to buy anyway so I was more mixed coming in. As I write this the stock is up a little. I don't think it's a big deal for markets. It's more of a confirm that even though they guided down, markets are looking through, and looking out 9 months based on our other macro factors we've been bullish about, Fed, economy, yada and of course yada getting better than expected.
SNAP miss but so far not doing its normal falling apart -50%. Not down 50% is another sign of a market not so bad.
WDC also reported bad, stock down, but most likely not breaking down.
EA bad. I said in chat on the print at 121 or so "ea bad break on earnings technically. probably follow through lower". I now see it as I write this now at 115.5.
It's always good to be on chat after hours in earnings season.
SNAP and WDC I said in chat they look like they can hold and so far they are holding.
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