Thursday, October 21, 2010

3 Cheers for Netflix

As mentioned, I bought this stock a few weeks ago when Blockbuster filed for bankruptcy - and only for that reason. Netflix (NFLX) rose 13% today. Not this week. TODAY!  All I can say is wow. Didn't see that coming, but happy I was standing in front of the train when it did.  Coincidently, their website went down today too.  What caused the gain?  They had 3rd quarter earnings rise 26%. Still, that's crazy. But I'm glad to be on that side of crazy.  Still keeping my eye on Fannie Mae and Freddie Mac. They're up to $.40/share each, but I don't think they're going to stay there long. I see $.30/share in their futures.  When/if they get back down there, I'll consider buying them again.  Why? Because they are still backed by the government and they recently sold at $60/share.  As The Terminator said, they'll be back....

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