Comcast decides to no longer bid for 21st Century Fox’s assets, ending one of the biggest bidding wars in show business.But now, Comcast ‘s stepping back potentially clears the way for Disney to go ahead with its $71 billion cash-and-stock offer to buy Fox’s assets. However, Comcast is now eyeing Sky Plc.

She points out to the run of Russell 2000 (the index of small-cap stocks) – is up almost 10% this year (through yesterday’s close). The run of FAANG stocks continues (Facebook, Apple, Amazon, Netflix and Alphabet).Where are we on the standard cycle of the investor's emotions: Optimism, Excitement, Thrill, Euphoria, Anxiety, Denial, Fear, Desperation, Panic, Capitulation, Despondency, Depression is anybody’s guess?

As we wrote in our previous blog, while the external events have significant influence on the markets, they tend to be short-lived.The “real news” are in the earnings and we are witnessing the blood bath for one of the high flyers – Netflix (NFLX).