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MLR - PMP 8/8/14

Major averages yesterday fell on mixed volume. Global unrest is adding volatility and selling pressure to the way markets trade as the U.S. authorizes airstrikes in Iraq and a trade war escalates between Russia and the West.

Solar stock SolarCity (SCTY) had a pocket pivot on a strong earnings report after reporting a smaller than expected loss. This sent FSLR higher as well as FSLR had reported strong earnings on Tuesday after the close. While a pocket pivot occurred on FSLR on Wednesday, the selling pressure in the general markets in addition to SCTY reporting earnings after Thursday's close created a higher-than-normal risk situation in FSLR, especially had the earnings report in SCTY disappointed.

Netflix (NFLX) had a pocket pivot as it attempts to recover from a prior late-stage breakout failure. NFLX CEO Reed Hastings compared his company's revenues to HBO on a Facebook (FB) post, sparking the move.

As you can see, it is important to weigh upcoming earnings not just in the stock you are watching but also in stocks within the same industry group which could affect the price of stocks in that entire industry group. FSLR and SCTY are the two largest stocks by market cap, so have the greatest potential to impact the short term performance of the group.

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