FTNT down 6% AH on earnings after beating on revenue, earnings, and guidance. Bookings are slightly short, but obviously this isn't the reaction I expected.
I don't see institutions selling on good news, just short term traders that were playing earnings. Probably retests $125 support then goes for a gap fill. Then probably drifts sideways like last year.
Holding my calls and adding if it hits my $125 mark. Going light since I expect the market to dip here soon. Probably done playing earnings, too unpredictable. Money losing companies go up because they beat lowball numbers, money making companies drop when they beat. I get sell the news on some pumptarded stocks, but we're gonna gap down below last quarter's earning day tomorrow.... after beating.
First time this is gonna gap down after beating. Seriously disappointed.
I don't see institutions selling on good news, just short term traders that were playing earnings. Probably retests $125 support then goes for a gap fill. Then probably drifts sideways like last year.
Holding my calls and adding if it hits my $125 mark. Going light since I expect the market to dip here soon. Probably done playing earnings, too unpredictable. Money losing companies go up because they beat lowball numbers, money making companies drop when they beat. I get sell the news on some pumptarded stocks, but we're gonna gap down below last quarter's earning day tomorrow.... after beating.
First time this is gonna gap down after beating. Seriously disappointed.
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AH volume 117k compared to 1.6M daily volume, watching level II, the sellers just keep popping out of nowhere.5M shares short, so we probably get a gap fill sooner or later, but that's about as bullish as I can get.
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There does appear to be support AH at $130 for some reason. I don't see this tanking, but definitely not looking good especially since I expect the market to drop by Aug 21st expiration date.Trade active
Boy that went quick, added $125 calls when it dipped below $126.I said yesterday that I would add....
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PLan to close the $125 at gap fill next week then ride the $135.Note
Opened at $130.9, expect to close there for a doji.Looks like sector rotation out of SAAS and into small caps. DDOG and DBX also got hammered, I like DBX (25 forward P/E), but DDOG is waaay overvalued.
I know it's sector rotation because COUP is down. The only time COUP goes down is if funds sell. It's more than 100% institutionally owned because the funds bought short shares, shorts are so screwed with COUP...
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COUP is down more than FTNT, looks like it's a SAAS selloff that could continue into next week.Dumped the $125 calls. WIll hold the underwater calls at this point, not even worth selling.
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So here's the deal, FTNT will more than likely trade with NDX from here out (barring any upgrades/downgrades), so pay attention to NQ (NDX futures)Trade active
Added a bunch of $130 and $135 cheap this morning.this will fill the gap, earnings were good, it's just a sector selloff. When the selloff ends, we get a gap fill.... hopefully before options expiration, lol.
Trade closed manually
Doesn;t look like it's going anywhere.... gave up.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.