Wall Street Manna

An irreverent look at Wall Street

Thursday, April 22, 2010

How wrong were the shorts on NFLX?

Go back a couple of years, and try and remember when the Citigroup analyst was "concerned" about NetFlix, and 30% of the float was shorted.

Do you remember those stories?

Remember the dreaded Netflix adhesive flap, that sometimes caused the Post Office sorters to jam, and then, they had to be sorted by hand?

Remember how the NY Times had that story?

Planted by some hapless short?

In fact, the the shill for the shorts, the analyst from Citigroup, had this to say:

In the report, Mr. Wible reiterated his sell rating on Netflix and his buy rating on Blockbuster. “Given the magnitude of this risk,” he wrote, Netflix is most likely to “work towards resolving this issue by redesigning its mailers.”

How did that paired trade--a short of NFLX and a long of BBI work out?

15 Comments:

At April 22, 2010 at 10:17 AM , Anonymous Anonymous said...

Hi palomoni--what was up w/ yesterday's invite only? I fear I am missing out on some secret blog posts---

Any thoughts on STT?

 
At April 22, 2010 at 11:16 AM , Blogger Palmoni said...

STT is Goldman's partner in crime, so I think it's being tainted with the same brush.

Invite only was on some interesting Flight Aware information, especially with shutdown in air traffic

 
At April 22, 2010 at 11:51 AM , Anonymous Anonymous said...

how can we get on your invite only list? do you plan to go private ? thought you might have shut the blog down. was scrambling a bit.

 
At April 22, 2010 at 12:27 PM , Anonymous Anonymous said...

Agreed Palmoni,

I don’t always agree with you but love your input. I would be happy to share my identity with you, just not everyone who visits this blob. How would I accomplish that? I want to make sure I’m on an invite list if you go private again.


IOC is down but did a deal mitsui that was announced recently. This will be much bigger than anticipated. 80 short term target.


thanks

 
At April 22, 2010 at 12:28 PM , Anonymous Anonymous said...

s/b blog.

 
At April 22, 2010 at 1:46 PM , Anonymous Anonymous said...

any spec play for $200?

 
At April 22, 2010 at 1:48 PM , Anonymous anonymous middle east said...

Palmoni
I kind of freaked out when I saw the blog was invite-only yesterday!

Do you still like LUNA as a long term play?

 
At April 22, 2010 at 2:06 PM , Blogger Palmoni said...

yeh I do but it will take some time

 
At April 22, 2010 at 4:17 PM , Anonymous Anonymous said...

Hi Palmoni,

yesterday's secret blog freaked me out too. I thought maybe some heavy legal action was involved. Glad to see you're back.

What do you think of the prospects of an OIH breakout & especially a HAL breakout?

 
At April 22, 2010 at 4:18 PM , Anonymous Anonymous said...

do you know why MGM and the casinos took off today...man i sold before the goldman story and was hoping to pick some back up at a lower level but it's just been running

 
At April 22, 2010 at 4:48 PM , Anonymous Anonymous said...

Palmoni or anyone --I love Lucy, Lola and cherry cola but why does anyone Love LUNA? Thoughts, please

 
At April 22, 2010 at 6:26 PM , Anonymous Anonymous said...

Thought's on C?

cramer says C is great deal at 4.87
on tonight's show.

C had good earnings and international exposure unlike other banks. Why wouldn't it go up?

Also, the nyt had a good article on C the other day --How did Citigroup trounce JPMorgan Chase and Bank of America?

nietzschesportfolio.blogspot.com/2010/04/citis-decent-showing-better-then-bac.html

 
At April 22, 2010 at 7:54 PM , Anonymous Anonymous said...

Wow last pic was hot

Go big babes

 
At April 23, 2010 at 8:32 AM , Blogger Palmoni said...

LUNA is working with ISRG on their technology

 
At April 23, 2010 at 8:34 AM , Blogger Palmoni said...

Drilling broke out--check out the SLB news this am--news in the future is better

 

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