Hello traders everywhere! Adam Hewison here, President of INO.com and Co-creator of MarketClub, with your mid-day market update for Wednesday, the 21st of August.
The Dow (INDEX:DJI) has fallen back 61.8%, a key Fibonacci retracement level, and is now in an area where it should stabilize and start to move up once again. Everybody is waiting for the Fed minutes this afternoon, but I don't think there will be any change in the Fed policy for the time being.
With yesterday's news of Netflix (NASDAQ:NFLX) acquiring the exclusive broadcast rights to Weinstein films, Netflix stock shot up dramatically. I have been bullish on Netflix for some time and I continue to think this market is headed for an all time high around $300. Would I buy Netflix around current levels? Yes, with tight money-management stops. Continue reading "Today's Video Update: Time to buy the Dow and Netflix?"
