I took a piece of my Netflix long off the table inside 12631 earlier, from my original entry in the $224 range.
The stock is still acting great, but has rapidly ran back up to its May highs. The presumption is that there will be at least some initial struggle at this level before the next move occurs. Also, the Netflix trade is becoming a very popular one, even slightly crowded.
I still have a core position and will look to add back to it if I get the action I like.
Also, for an actionable idea into the close today, keep an eye on recent-IPO NDLS if it can clear $42. I am not a big IPO guy, but this has seen some nice action and has recently pulled back. Round two coming? Watch $42.
___________________________________
___________________________________
If you enjoy the content at iBankCoin, please follow us on Twitter