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An Earnings Season Update, Plus 2 Long and 3 Short Trade Ideas

by | Oct 19, 2022

The market gave up its gains early Wednesday despite a strong quarterly earnings report from Netflix — and more in Wednesday’s stock market recap.

Netflix Inc. (Nasdaq: NFLX) rallied as much as 13% after the streaming company beat both earnings and revenue estimates, and reported strong subscriber growth.

Remember, earnings aren’t great, but expectations are so low that we’re seeing a lot of companies beat estimates.

Another reason the market railed Tuesday in addition to strong earnings reports was that the most recent data on industrial production came in at the high end of the consensus range.

In times of recession, industrial production is not usually this strong, so this is a good sign.

In this morning’s stock market recap video, I’ll discuss what’s driving prices higher right now… the biggest report this week from the Federal Reserve… an earnings preview and what to expect later this week… how Tesla Inc. (Nasdaq: TSLA) is expected to trade… key levels for three major indices… whether short-term momentum levels have more to go… plus the two stocks that look super solid to the long side, and three stocks to fade!

Don’t forget to like, subscribe and leave your comments and questions on our YouTube videos — we will respond!

P.S. It’s a Big Week for Earnings… Prepare Now

Mark your calendar for Wednesday, Oct. 19.

That’s the day Lance Ippolito expects to see some BIG orders come in from the smart money on this stock…

Because right after the markets close… they’re announcing quarterly earnings results…

And based on what executives are saying, this stock could move the entire market.

Which is why he wants you to trade it with me BEFORE the closing bell — to capture potential insider and Wall Street whale buying going into a big announcement…

Uncover All of the Details (and the Stock)

P.P.S. When it comes to trading, every second counts. And in choppy markets like these, often driven by headlines, stocks can make big moves in a flash.

That’s why I want you to get my latest trading ideas and market updates as fast as possible. So I’m rolling out an all-new option for my students to receive trade alerts with Telegram!

Telegram allows me to get trade ideas, videos and watchlists to you in a matter of seconds.

Check out this short article we put together with instructions on how to download telegram and access my private channel. Go here to get the details. 

Stock Market Recap: By the Numbers

This morning’s stock market futures recap:

DOW (mini)

  • Close: 30,523.8.
  • Futures: 30,442.
  • Change: -141.

S&P 500 (mini)

  • Close: 3,719.98.
  • Futures: 3,711.25.
  • Change: -21.5.

NASDAQ (mini)

  • Close: 11,147.74.
  • Futures: 11,133.75.
  • Change: -65.

RUSSELL (mini)

  • Close: 1,755.96.
  • Futures: 1,747.7.
  • Change: -14.2.

Note: Updated as of 9:18 a.m. EDT

Building on the sector analysis from Tuesday, I’ll take things a step further every Wednesday with two FREE trade alerts! I’ll identify my favorite stock in the strongest sector, and even a short opportunity from the weakest sector. That’s two trades… absolutely free… each week!

Need help understanding some basics that we discuss frequently? Check out some of our educational pieces to help get yourself up to speed! Have a question or a topic you’d like us to explain in a future article? Send your thoughts to support@marketgeeks.com!

Check back each morning for the Roger Scott newsletter and the most important news and numbers in the WealthPress stock market recap.

WRITTEN BY<br>Roger Scott

Roger Scott

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