Major averages finished mixed yesterday on higher volume. The Dow Jones Industrials continues to trade sideways for the fourth week in a row.
Security and storage cloud solution company Barracuda Networks (CUDA) is looking to gap higher at the open this morning after reporting strong earnings last night after the close. This may become actionable depending on how it trades after the open. Earnings are skyrocketing.
CUDA actually posted a pocket pivot in yesterday's trade but one would have run the risk of the stock gapping higher or lower. Earnings these days is less predictable thus our calling the day a company reports earnings, "earnings roulette". Of course, markets could revert back to the time when positive price/volume action a day ahead of earnings tilted the odds in favor of the company reporting strong earnings.
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