Friday, October 21, 2011
10/21/11 Lehigh
tof- Damn, you went to Lehigh? Springsteen country. During my two years at Michigan Business School, I worked on/off with a Lehigh engineering grad on various class projects. Good guy.
Now that I've put away 3 Duvels waiting for a prime rib in the oven, I'm ready to proclaim 12,000 by early next week. No way around it- we've left a ton of panicked traders stranded at sub-11k, and going back to pick them up is out of the question.
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What's a seven-course Irish dinner?
ReplyDeleteA six-pack and a potato.
ReplyDeleteI got that from 'White Irish Drinkers,' a new instant play on NFLX.
ReplyDeleteYou guys really want a nasty beer, you can get one full of sugar, in Belgium.
ReplyDeleteNot that they don't have great beer there, they do, they love beer so much they've even developed a taste for sweet beer. ;)
I've got to hand to to the Germans though, they make my favorite, live unpasteurized heffeweizen.
But TOF, Yuengling isn't expensive here, a 12-pack of the Black and Tan bottles sets me back less than $10...
2nd - the 7-course Irish dinner sounds superb!
ReplyDeleteHPQ - Market cap $50B, sales $128B, income $9.4B, book $19, at today's interest rates they could buy themselves?
ReplyDeleteCrazy...
What are the best ten years of an Irishman's life?
ReplyDeleteThird grade.
Where is everyone Redbox?
I'm pretty sure Mark stopped in at the local RedBox to pick up a DVD and a 13-course dinner.
ReplyDeleteAlright, so it's a 25-course dinner.
ReplyDelete"What are the best ten years of an Irishman's life?"
ReplyDeleteHey now watch it, my grandfather's father immigrated from Ireland to farm 1300 acres in the Shenandoah valley, and was a slave owner. Later, my grandfather sired 15 kids to work the farm, where they continued raising cattle and sheep, grew vegetables and ran a canning factory. He was a county supervisor, as well.
http://www.skylineranchresort.com/ResortHistory.html
Typo, that was 1900 acres...
ReplyDeleteThat's pretty cool CP.
ReplyDeleteMore curious topics. I checked guru grades and they say Jon Markman ranks pretty hi on the list.
http://www.cxoadvisory.com/2889/individual-gurus/jon-markman/
Then I go on over to Market Watch and read one of his articles from yesterday.
http://www.marketwatch.com/story/whos-right-about-recession-wall-street-or-ecri-2011-10-20
David, were you the one last year (or the year before) that did some analysis on the ECRI?
ok, enuff bear talk out of me. go bulls, I need a big CSCO rally. It worked for INTC when it fell into the teens.
port - do you subscribe to CXO? if so what do you think of their service?
ReplyDeletethx!
hope everyone is doing well!
"But TOF, Yuengling isn't expensive here, a 12-pack of the Black and Tan bottles sets me back less than $10... "
ReplyDeleteCP > Yes, I should have clarified that they were expensive for broke college kids like us. Our usual suspects were Narragansett Beer which I believe at one time ran $5.75 a CASE, Joe's Beer (never forget picking up a beer can out of a cooler at one of our parties and seeing that label), and Schlitz.
We watched Paul last night; Redbox special. It's actually a pretty good movie. Seth Rogen is the voice of Paul, an alien that goes on a joyride with the two dudes from "Sean of the Dead" as he tries to get back home.
port2013, thanks for the link - interesting read.
ReplyDeleteThinking of shorting some AAPL here. They are cheap on a P/E basis, but they are firing on all cylinders now and competition is increasing greatly and margins will get squeezed by products that are 1/3 the price (Android phones and Amazon tablets).
Anyone see any reasons why this shouldn't work? Also, my timing on shorts has been way too early in the past - perhaps it is still too early?
2nd - you might be right, we might be headed higher here. I've added this weekly free chart to my reading list...
ReplyDeletehttp://www.mcoscillator.com/learning_center/weekly_chart/
Direct link to this weeks chart..
http://www.mcoscillator.com/learning_center/weekly_chart/mcclellan_oscillator_confirms_new_uptrend/
ECRI - Yes they're bearish and have been? Didn't they call the downturn?
ReplyDeleteI'm thinking this is not a good time to sell here, I'd rather add if prices fall. We might have an opportunity to put on a short hedge above 1270?
I keep wondering to myself why corporate "America" has been hording their cash, is it b/c their anticipating a large downside event where the cash allows them a myriad of opportunity?
I don't think Germany can afford to leave the EU, they should rather just own the EU.
Looks like Grym is still hanging in over at CC. He posted a link to an interesting article re. world-wide debt...
ReplyDeletehttp://www.weeklystandard.com/articles/losing-economic-battle_598447.html
"The TRUTH about who owns US debt":
ReplyDeletehttp://www.businessinsider.com/who-owns-us-debt-2011-7?op=1
JB - I don't subscribe to CXO, I'm just using the free stuff they have available. I like to check out the guru's they show that have recently (last 6 months) been reviewed with a hi accuracy rating.
ReplyDeleteMy current subscriptions are Stockcharts and THE MAD HEDGE FUND TRADER
Stockcharts - I use this quite a bit at home and at work. I would like to find something that is easier to use with futures on it though.
Mad Hedge Fund Trader - I started subscribing to his newsletter first around Aug10 I think. Then he came out with a trading alert system that I subscribed to and I've been real happy with it. I didn't take a lot of his trades in the beginning because I wanted to see how he did. He started it in Oct10 right around the QE2 announcement. I think he calls it macro millionaires. I know I’ve made enough to pay for the subscription but I'm still working on updating my worksheet with all his trades.
I can certainly relate to 2nd’s opening on “what it takes”. I’m pretty good about leaving the 401’s alone, just making a few tweaks here and there. But who wouldn’t love supplementing income with swing trading? That’s the new car, a little bigger house, more expensive vacations, and of course, the biggie, MR. PORT2013 - THE PHILATHOPIST. I feel like I know what the rules are, I'm just very good at implementing them.
"Regulators Knew Of Dexia's Problems, But Were Silenced":
ReplyDelete"By Wolf Richter www.testosteronepit.com
When a bank is allowed to collapse, the lies behind its financial statements come out of the woodwork—and Dexia, the French-Belgian mega-bank that was bailed out in 2008 and collapsed in early October, is no exception: a report by the French banking regulator surfaced. It contains the results of an investigation concluded in the summer of 2010. And it threatened to put the bank "under special supervision."
And then? Nothing. The report was buried. Until the French newspaper, Libération, obtained a copy of it.
Dexia is a big deal in Belgium where it employs 10,000 people—of a population of 11 million (in the U.S., that ratio would translate into 290,000 employees). It has over 21 million Belgian bank accounts, and its assets of $715 billion dwarf Belgium's $395 billion economy. This craziness started years ago when the community bank embarked on an acquisition spree that turned it into an outsized, overleveraged hedge fund—that paid out huge bonuses, and as we now know, lied to investors, regulators, and the public. At taxpayer's expense.
But the report shows that the regulators weren't stupid. Inspectors of the Authorité de Contrôle Prudentiel, the French banking regulator, investigated Dexia Crédit Local (DCL), the French part of Dexia, during the summer of 2010. By then, DCL had fallen below the required liquidity levels and had difficulty raising cash to cover its monthly expenses."
http://www.testosteronepit.com/
SPY daily, looks bullish to me but it depends on the headlines in play Monday morning. I say we go up if there are no headlines.
ReplyDeletehttp://www.screencast.com/t/EBLpojpamYJ
I used ProphetX to create this chart. It's a desktop system that we have at work and I really like it. I have a lot of trouble running it on the home pc though.
Also on the chart above, MACD made a higher low while the SPY was making a new low. Elder says that is one of the most powerful bullish indicators you will see. The MACD crossover took place on Oct 6th or 7th.
ReplyDeleteWe finally won a game! There's some doubt as to whether it was 6-1 or 7-1. The little fireball scored either 5 or 6 of his team's goals. Since my folks were there to watch him play, it was the ultimate win.
ReplyDeleteJust got back. What a crazy two days.
ReplyDelete2nd! Nice...I'm telling ya' travel soccer is living the dream man!!
Volunteered to drive one of Kendra's teammates sister during half time for the homecoming queen thing Friday night. What a mistake that was. I want those 4 hrs of my life back
ReplyDeleteman you guys had a MUCH better day than me. i spent 7...i'm not kidding...7 hours at a car dealership. walked away with the proud owner of a 2012 Ford Edge SEL, which we had absolutely no intentions of buying. but i got a good deal on a 3 year lease (we like the idea of having a new car every 3 years) - got it for about 10% below the website price.
ReplyDeletewhat a pain in the ass the whole experience was though...although i got to use my negotiation skills.
"Volunteered to drive one of Kendra's teammates sister during half time for the homecoming queen."
ReplyDeletehumm too easy, will let it slide.
BB. Why short one of the greatest stocks in history ? Technically AAPL has an island top, but is already down to about 50% fib retracement level and close to the 50 day MA. Likely bounce area.How many times has institutional algos made money buying AApl when it bounces at the 50?
There has got to be an easier short. I came up with 155 names on my short screen. http://finviz.com/screener.ashx?v=211&f=ind_stocksonly,sh_avgvol_o500,sh_price_o3,ta_averagetruerange_o0.25,ta_highlow52w_b20h,ta_sma20_pb,ta_sma50_pb&ft=4&ta=0&o=-
http://www.tampabay.com/news/business/retail/coming-to-tampa-bay-supermarkets-self-service-health-testing/1168678
ReplyDeleteI really like this Solohealth concept.
jesse- Just wondering if you have any first-hand reports:
ReplyDeletehttp://www.marketwatch.com/story/seagate-seen-dominating-battered-market-2011-10-21
tof- After dealing with a Toyota without door panels for the last few weeks, I can understand why you would like the idea of having a new car every 3 years.
ReplyDeleteThe baby will be much happier in the Edge. Nice looking vehicle.
ReplyDeletetof- Since you're in the business, how would you go about finding a decent furniture store on the Peninsula with good customer service and value pricing? We're looking for dressers.
ReplyDeleteThanks RoBear. Guess it's probably dumb to look to short a very successful company in what should be a good market for the next few months. A lot of the charts on your short list were PM's and miners. I could see the PM's easily taking another hit if we get resolution to Europe and the fear trade fades.
ReplyDeleteTOF, Ford Edge is a nice vehicle. Rented one a couple of times and really impressed. Lots of room for kids and luggage.
ReplyDeleteFord is doing a good job these days and they are talking about reinstating the dividend. F might be a good buy.
BB here is someone who is sensing the same doom that you do in aapl.
ReplyDeletehttp://peterlbrandt.com/apple-bulls-are-stranded-on-the-island-of-death/
I should take 2nds,Mark's and CP's advice and just shut up!
"Sunday, October 23, 2011 - 19:42
ReplyDeleteEurope Leaders Claim Progress But Fail to Clinch Rescue Deal 0
BRUSSELS (MNI) - European leaders defended their management of the Eurozone debt crisis on Sunday but did not conclude a decisive rescue package to end nearly two years of market turmoil."
https://mninews.deutsche-boerse.com/
RB - I wish you'd speak your peace more often, sometimes I wonder if you've been paying attention.
ReplyDeleteHappy Halloween!!!
ReplyDeletehttp://www.screencast.com/t/ftE1mlnjgrPd
Awww. The weather in Houston is fantastic. But we can't go outside unless we swim in skeeter (mosquito) spray.
ReplyDeletePMI - Arizona Regulators Seize PMI Group Subsidiary:
ReplyDelete"PMI Group Mortgage Insurance Unit Is Seized by Arizona; Payouts Cut to 50%
By Noah Buhayar and Mike Millard - Oct 23, 2011 12:00 AM ET .
PMI Group Inc. (PMI), the mortgage insurer that was ordered in August to stop writing policies, said a unit that sells such coverage was seized by Arizona authorities and will pay out claims at 50 percent starting tomorrow.
The Arizona insurance regulator has full possession, management and control of the unit, PMI Group said in a statement on its website. Bill Horning, a spokesman for PMI, didn’t respond to a message seeking comment. "
http://www.bloomberg.com/news/2011-10-22/pmi-group-mortgage-insurance-unit-seized-by-arizona-payouts-cut-to-50-.html?cmpid=yhoo
I'm kicking ass in the football pool again this week. 10-1 so far.
ReplyDeleteWatched a bit of Options Action on CNBC from Friday's show. I think this is the "In The Money Now segment.
ReplyDeleteHansen Natural around the 6:30 min mark. This conversation reminds me of BB's AAPL short idea. CNBC guys say so many times these stocks exhibit some weak signs and it turns out to be a headfake which is why they like to use options to short the stock.
The main guy is spelling out a bear put spread using the weekly options on BIDU. They say BIDU broke the trendline, rallied back up to it and failed. He's putting on a bear put spread by buyng the 115 strike for $3.75 and selling the 100 strike for $.75, thinking BIDU can moved down to the $100 area. I don't like weekly's so much myself.
They also say that since the market has rallied, peeps are starting to put their hedges back on which gives the market more support on the downside. I say no news out of Europe means we waffle around a bit with a bias to the upside. Any good news out of the Fed or Europe and up we go.
I'm going into tomorrow without much of a plan. I had a lot of short puts expire this weekend so I may look to sell some puts on any weakness in names I like from top to bottom
ReplyDeleteCF, MOS - I love the ferts
DOW - I like it, shares were called away this weekend
HES - one of the coworkers really likes this one and I can't really argue with him. He was the one that told me to buy BEXP around $16-17. DANG.
BANKS - If I were going to buy one to hold maybe WFC. Seems like the banks will get the most bang out of a Euro settlement so does that mean C and BAC? I obviously have a hight tolerance for volatility. I'm not sure why I have such a hard time buying C or BAC.
good luck tomorrow
UXG - I see a potential target of $3.08, I'm going to try to pick some up there.
ReplyDeleteAs expected ORCL finally bought RNOW, that was a long haul.
ReplyDeleteINFA will be next, HPQ will probably pull the trigger in the next month or so, sooner if Meg gets things sorted out quickly.
Instead of day trading futures I think I am going to start a for fee technology M&A blog...LOL
Been thinking about it some more and I may sell some out of the money AAPL calls (or a call spread). May be a safer way to play this as AAPL may hold up due to valuations, but hard to see it going up further.
ReplyDeleteMy big risks are if they do something shareholder friendly with all that cash or Christmas sales are over the top for them.
I don't think the market goes down here, but I think we see a shift away from the big dividend payors/utilities/market darlings (AAPL, etc.) to the industrials/commodities/low value, no dividend stocks. Financials might be good here as well.
Yeah, pretty impressive the M&A that is occurring every week now.
ReplyDeleteMaybe you'll even get a chance to talk about poor little YHOO some day!
JOYG - Wow, I missed that one!
ReplyDeleteThose AAPL calls are looking good, jb.
ReplyDeleteCADC - Look at that puppy go!
ReplyDeleteJB- Nice call!! I remember that one!
ReplyDeleteAAPL-Some pretty big bars here.
ReplyDelete2nd - what's your budget for the dresser and what color do you need?
ReplyDeleteWife likes dark wood- eg, cherry. Budget- what budget? We have no disposable income right now -) She saw a couple of bedroom dressers on the Costco site- made in Indonesia, a 6-drawer + mirror for 899 + a 5-drawer matching for 699. That sounded good to me, but the depth of the cabinets seemed short to her- we need more room than those offer. We shopped a few stores on the Peninsula over the weekend- they're either too expensive, or they're crap.
ReplyDeleteSomething muted and impenetrable that doesn't attract unwanted attention of curious types. 2nd needs the "dresser" b/c he's getting back into the "travel business" by opening a "candy store"...?
ReplyDeleteDamn- I wish I'd had the cojones to buy AAPL calls last week.
ReplyDeleteWow - copper almost up 7% today on top of Friday's move - that's almost 15% in 2 days.
ReplyDeleteGuess people have figured out China isn't dead after all.
2nd - let me know if you like any of these:
ReplyDeletehttp://modloft.com/cat.cfm?path=DRESSERS
i work with this company; they're a pretty solid company, but they are slow at shipping stuff out....most of the other dressers we sell are really expensive designer stuff.
if none of those work i would go with a well ranked seller on amazon or google shopping.
tof- Thanks!
ReplyDeleteCSTR strong going into NFLX earnings after the close. I'm telling you CSTR is a sleeping giant. My friend lives in a suburb in Boston and he said the handful of Redbox kiosks in his area are always packed with people. He said he was in line talking to two people that were in line behind them and they said they have Netflix for streaming old seasons of TV shows like Breaking Bad, but that they go to Redbox for the new movies.
ReplyDeleteI think based on Redbox alone this goes to $80 (and yes, David, I think DVD rentals will be around for years so you can justify it based on discounted cash flows). But this is a buy and hold in my opinion because they're changing the way we do business in a lot of industries. I like that their coinstar machines and redbox machines are in thousands of retail locations around the country because this will allow them to quickly expand these new concepts they're developing like the used electronics kiosks, coffee kiosks, sell your used phone kiosks, Solohealth, etc.
CADC:
ReplyDelete"The Company's Board of Directors, acting upon the unanimous recommendation of the Special Committee formed by the Board of Directors, approved the merger agreement and resolved to recommend that the Company's stockholders vote to adopt the merger agreement. Under the terms of the merger agreement, each share of the Company Common Stock issued and outstanding immediately prior to the effective time of the merger will be converted into the right to receive $2.65 in cash without interest."
I've been warning you, folks, that this is gonna happen, and a position in CADC is a low-risk way to play the undervalued Chinese small caps. Too bad I was deep in margin when CADC was at its best (under $1.50) and so I accumulated only 7500 shares at the cost basis of around $1.80... And too bad that I sold last week at $1.81 the 1500 shares that I last added at $1.50...
I have no complaints about my CSTR trade.
ReplyDeleteTOF: you deserve to be rewarded with CSTR for the great fundamental analysis capability you have been demonstrating.
ReplyDeleteI bought 1 November $50 call last week at $4.20, so I may get a few free bottles of liquor thanks to CSTR as well. :) Just to keep my health stronger. :)
David- Good to see you'll be carrying the torch for alcohol consumption after I pass on to the next world in 40-50 years.
ReplyDeleteThinking about the overall market, it looks like we have the classical price-news divergence: the price keeps going up despite the very negative overall backdrop (inevitable recession in US and an inevitable Greece default with an unknown haircut on its debt and thus unknown consequences).
ReplyDeleteSo is the price right this time? Or is it just a suckers rally, which happened before the last two recessions?
I think market's reaction to Wednesday's announcement out of Europe and then to the subsequent Greek debt restructuring will be key. If the market starts going down, then we'll most likely be in the "suckers rally" scenario. But if the market does not collapse following those events, THEN loading up on the long side on margin will be the thing to do.
"I think market's reaction to Wednesday's announcement out of Europe and then to the subsequent Greek debt restructuring will be key. If the market starts going down, then we'll most likely be in the "suckers rally" scenario. "
ReplyDeleteor perhaps if it goes down then it's perhaps the suckers sucker rally? as in, a bear trap?
Just bought 1000 more shares of SORL at $3.00. It built a nice base over the past 3 weeks, which tells me that the downside momentum is over. The small caps index HAO just broke out intraday today above the previous high it made since its low in early October. So we have a higher low and a higher high on HAO, and SORL has been well-correlated with HAO.
ReplyDeleteAlso, just placed a buy limit order for 1000 shares of ONP at $2.35 (midway between bid and ask). 500 shares got filled immediately and then bid-ask moved up. It's crazy how thinly traded these Chinese stocks are now! EVERYONE is staying away from them... Imaging how much they will move up when SOME people start buying them!
ReplyDeletehaving said that, the market is coming into some heavy resistance at these prices. it will be interesting to see how it trades...
ReplyDeleteTOF -- I think heavy resistance was at $1220, the level at which the previous two rallies were turned south. Right now, S&P technically looks to me like it will inevitably reach 1300 soon.
ReplyDeleteDavid - I was just pointing to the March and June 2011 bottoms...when we broke below those in August the market cascaded lower.
ReplyDeleteAny of you guys follow NXPI? Apparently Motley Fool is really bullish on this company in their Rule Breakers newsletter. Back in the day I used to subscribe to this newsletter just because they believe in investing in the same kind of companies I like investing in: ones in secular growth trends that have a lot of growth. They save a lot of legwork by bringing up interesting ideas. I think they came up with BWLD, BIDU, ISRG, MIDD when I was subscribed to it back in 04 or 05.
I didn't budge on my ONP bid at $2.35 (after they moved up the bid/ask as soon as I placed my order), and so reluctantly the Bad Boys came back down and hit my bid. So now I have added a full 1000 shares of ONP at $2.35 to my previous purchase at $3.00. I also have 20 short November $2.50 puts outstanding on ONP (which I sold at $0.40 a few weeks ago).
ReplyDeleteAll in all, I am ready for a monster move up in the beaten down Chinese small caps.
Also think we go higher and bought some more stock in brokerage Cowen Group (COWN).
ReplyDeleteI think the asset managers give good leverage as the market recovers and, because this one trades at 60% of tangible book (50% of full book), the downside should be fairly limited if I am wrong.
David, i think you are right about the China stocks as these have really just been thrown away as people avoid risk. Wish I knew more about them so i could make intelligent buys here. The only one I has is DSWL and this I got from a friend who I respect and it has no debt and pays a good dividend.
Too bad AUMN is lagging GDXJ today... But then, it is a great buying opportunity for those who don't have AUMN (or GDXJ) yet, as they both made a clear higher low on Oct. 20, and so buying them now and placing a sell stop just below the Oct. 20 low is a low-risk, high-reward trade.
ReplyDeleteI started buying Chinese small caps as a way of diversifying away from my large AUMN position, but I just noticed that HAO and GDXJ show a VERY high level of correlation with each other, and a much lower level of correlation with S&P. So when the risk is ON, the money flows out of the defensive US blue chip stocks equally well into all sorts of high-beta sectors, even though they are VERY different in nature.
ReplyDeleteExploiting further the HAO/GDXJ correlation, HAO has just made a higher high since its low in early October, but GDXJ has not made a higher high yet (despite a large move up today). Since the Chinese stocks are usually viewed as leading the market, I would say GDXJ will make a higher high in a short order. Thus, once again, buying some GDXJ (or better yet AUMN) right now is the smart thing to do. I have already added to my AUMN position on Friday at $7.37 (with a stop just below the higher low made on October 20), and now I am just watching that Boeing take off slowly...
ReplyDeletetof - Yes, you're right, we traversed the 'volume desert' rather quickly and are moving into a heavier 'overhead supply' zone as the 'volume by price' bars indicate.
ReplyDeletehttp://tradinglog.realitytrader.com/2011/10/nemos-findings-for-week-of-1016.html?spref=fb
Tough reversal in MITK today.
ReplyDeletemark - looks like someone unloaded over 300k shs of MITK earlier today which could have been a precursor. but those momo stocks move all over the place so who knows.
ReplyDeleteI noticed many times that AUMN/ECU would outperform GDXJ if it had underperformed the day before and vice versa. So based on today's strong performance by GDXJ and HAO (as a leading indicator for GDXJ) and based on today's underperformance by AUMN, I just bought 500 more shares at $7.68 with expectation of AUMN outperforming GDXJ tomorrow.
ReplyDeleteI just checked over at CC that Geoff has been operating on the (likely correct) thesis that the key to the market direction is the direction of $USD. Unfortunately, he made a call that $USD made a medium-term low last week and hence they were very much underweight equities. Today, however, $USD broke below the low it made in mid-September. So based on $USD as the leading market indicator, the market should keep moving up...
ReplyDeleteOut of curiosity, I just looked at the latest UXG presentation, which gives some info about the McEwen Mining company. They plan to produce 7.5M AgEqOz in 2014, and their market cap is currently 1.4B (combined UXG and Minera Andes). For comparison, AUMN also plans to produce 8M AgEqOz in 2014, and its market cap is around 250M now! Both companies have about 120M in cash right now to complete their projects (so it's not like AUMN is underfunded).
ReplyDeleteSo the choice of the company to invest into is clear right now -- AUMN!
Another interesting slide in that presentation is the production cost for companies producing 5M AgOz or more, which varies from something negative to $11/oz. So all these upcoming junior silver producers will be cash cows in a few years...
So why isn't CSTR moving here?
ReplyDeleteI just checked and CSTR is down after hours on tiny volume. I guarantee it's a head fake. I wonder where people think the Netflix subscribers are going...Do people really think those people are just not watching movies anymore?
ReplyDeleteor that they're going to other competitors offering streaming? c'mon man...those competitors aren't offering anything that makes their product any better than NFLX. Redbox at $1 a movie? Now you're talking.
ReplyDeleteDoesn't make sense to me either TOF. Let's see if I can get in @ 51.80 AH's.
ReplyDeleteScrew it. Hit the bid on 52 instead.
ReplyDeletenice mark > i suspect this sucker is going MUCH MUCH higher. i just read that the sub numbers for NFLX and not only were they down quite a bit but their projections for q4 are for quite a bit lower subs.
ReplyDeletehttp://allthingsd.com/files/2011/10/netflix-q4.png
ReplyDeleteFunny how profitable their DVD business is and yet they're turning away from it.
We'll see...Just looking at the Q&A...Not pretty.
ReplyDeletenew post
ReplyDelete