The FMHR traders discuss Whitney Tilson’s comments on Netflix and April’s disappointing jobs report.
welcome to the fast money i want to get an update from white knee on whitney on netflix. he’s not changing his opinion on that stock. he’s been buying steadily as it has fallen. he bought some yesterday. he also thinks netflix is, again, back to being a very interesting acquisition target. those words from whitney tillson, a man who has had a lot to say about netflix, where it is going and where he wants it to go. sure. and he has green mountain working in the right direction. there is a bounce but well off where it was a couple of days ago. and then you add to the netflix. you can understand why he has confidence and you can understand why he wants to stick with those winners. yes. does it surprise you? yes. whitney will be at our conference. this is — this is a momentum stock. we talked about it on the show. when it gets pierced, it is a falling knife. i don’t know if it’s going to stop here. he probably thinks it’s very cheap. i do think it’s going to continue to get hamred in the near term so it makes me wonder why it’s a good entry point as the s&p as i’m hitting right now at its lows, certain people with money to work in the market are going to see a lot of opportunity and so-called falling knifes. tillson adds that apple is below the 50-day moving average and go-to names and the overall market looks ugly today. looks more attractive to people who believe in the overall direction in this market. yeah. you touched on a key point. you want to look at 575 in apple. that’s basically the level of the barometer for the name right now. below that we go right to triple nickels. if you’re looking at what has worked, you’ve got to realize guys have been getting beat up. they have been getting hammered here. what you want to do is see when the xlf, guys tired of throwing money at financials, then you rush in and we’ve seen the cold space, enp space, large integrated names. all of them. they are all on bargains. tough wait for the leaders to break before the laggards are bought. you can clearly make the case that the jobs numbers that we got are potentially the worst case scenario. not bad enough to for qe 3 and give the market more appropriate and the market doesn’t like it and there’s a little bit of shelter, i guess, to be found in the dividend paying stock. and a lot of people look to philip morris. those things are not getting hit as bad. the grandma stocks are a place to hide out and they have been the falling knifes. not only are they not getting hit so bad, the natural progress is, after being shell shocked, what they’ve done is the transition. they’ve bought the dividend payers, the groups, i’m long both of them. those are the places where you want to hide. but like patty said, you have the capital appreciation as well. yep. let’s move on. in just a few minutes we’ll get insight from him and ahead of the road show as executives tour the major banks.
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