Markets, FB and Today’s Live Chat

Good morning and welcome back to the coffee shop, where the caffeine is strong, but not as strong as the adrenalin of staying on top of your trades.

Markets are up with the Nasdaq leading the way. Earnings from INTC weren’t exactly robust, but they were more robust than the bears and shorts had hoped. It’s not the news itself that matters, but rather the reaction to the news that matters to our own bottom line, and the 3% plus gain in INTC after that not-so-great of a report, is a probably a good “tell” about how this market wants to trade. That is, perhaps we get some more rallies from earnings season as it progresses. Still got two or three weeks worth of earnings report, and a lot can happen over that time frame.

I wanted to mention FB, as it has been hit hard over the last couple days though it’s up this morning. I got this note from a source of mine:

-talked to my good friend who is the head of ALL ad product at Facebook.  couple of things i took away.

-he thinks people are vastly underestimating what they are doing, and the ensuing results they’ll soon deliver.

Interesting and we will certainly learn a lot more about FB and its earnings reports and get to hear its first quarterly conference call next Tuesday. I’m holding my rather large FB position steady for now.

Don’t forget about today’s Live Q&A at http://tradingwithcody.com/chat at 2pm EST. And for those of you who can’t make the chat, you can send me your question to support@tradingwithcody.com and I’ll try to get it answered and put into tomorrow’s chat transcript.  Rock on!