Do with where crude oil is at this hour. Take a look. Falling to its lowest level now since 2003. Taking some big name stocks with it. I want to show you these moves because they really are stunning. The moves in freeport, marathon, alcoa, williams. When you realize how much theyre down, joe, this year alone were talking 12 days. Not even 12 trading days. Freeport is down 45 yeartodate. Williams 32. Marathon, 28. Alcoa, 27. That is stunning. This seems to be the moment. This seems to be what we feared. This seems to be the 2008 moment for the natural resources, the energy, the mining names. Its happening right now. Its the reason why the s p 500 cannot rally. Its the reason why i believe were going to take out the lows at 18. 50 to 18. 60. We need a bailout for the oil companies. Youre not going to get one. Well talk about that in a little bit, but what happens right now . Why is this happening . Youre seeing the High Yield Energy names coming under pressure. That leads to significant
1. 8. Housing starts not too bad. Road map begins with netflix shares vaulting in premarket after the company trounced wall streets and its own expectations for the quarter. Ibm moving in the other direction. After revenue and guidance came in below what analysts had been looking for. President obama outlining his plan to help the middle class removing Tax Advantages benefiting the wealthiest americans. First up shares of netflix up sharply in the premarket. The company exceeding its own forecast adding more than 4. 3 million streaming subscribers in the Fourth Quarter, posting profits that blew past street estimates. During the interview, Reid Hastings asked for his latest thoughts on the companys ability to reach 60 million to 90 million subs in the subs. Looking very good. 39 million in the u. S. Adding 5 plus million a year. So the trajectorys great. And you know if you step back and you say is internet video going to be in every home in america in ten years, thats a pretty clear y