What's interesting about earnings — and Netflix qualifies too — is that it seems like a pure test of sentiment. Tesla's Q2 is fine in context, they're keeping delivery guidance intact for the year, which is probably good news, but there's nothing here that really seems to change the story.
It's a quarter that in the market of a few weeks ago probably would have led to 7% sell-off, in this market it's led to a 7% gain. Certainly doesn't change my mid-term view, but maybe adds some upside risk in the short-term. If this is a bear market rally, maybe it's one that has a bit of legs.
Any thoughts on the latest earnings report?
What's interesting about earnings — and Netflix qualifies too — is that it seems like a pure test of sentiment. Tesla's Q2 is fine in context, they're keeping delivery guidance intact for the year, which is probably good news, but there's nothing here that really seems to change the story.
It's a quarter that in the market of a few weeks ago probably would have led to 7% sell-off, in this market it's led to a 7% gain. Certainly doesn't change my mid-term view, but maybe adds some upside risk in the short-term. If this is a bear market rally, maybe it's one that has a bit of legs.
Makes sense, thank you.