Trex’s Earnings Are Due Out After the Close

The big news for today will be Trex’s (TREX) earnings which are due out after the close.

The Nasdaq has been getting knocked around lately. On Friday, the index snapped an eight-day streak of losing against the S&P 500. But its victory margin on Friday wasn’t that much. The index is back to lagging today. The Nasdaq is very close to dipping below its 50-day.

Last week, Cerner (CERN) beat earnings, approved a new buyback program and raised guidance. The stock promptly dropped 4.7%. Then it rallied. It’s as if the market had a chance to make some second thoughts.

This is a good reminder that sometimes the market is far from rational. Wall Street acts like a mob because that’s what it is.

Posted by on May 10th, 2021 at 11:33 am


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