I shorted XOM @ 77.30.
Trades working from the watchlist: SRS, FXP, BIDU short, AMZN short, GS short (I’m in a bunch of them)
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Joined Jan 27, 2008
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Got some DUG…definitely starting to feel the short oil and related argument.
we should have added my favorite POT to that list. Always lots of volatility in that name.
This BIDU short is working great.
RIMM short still looks good, stop above $49.
Short Rimm at 47.30
Write it down: NFLX will be THE short of the year.
Entry point? Right here, right now, in the $32 area.
The stock is geometrically at an optimal entry point. It’s at diagonal and horizontal resistance on the long-term daily chart. The P/E is also astronomical for a consumer (or any stock for that matter) stock: 26. With the consumer getting destroyed over the next couple of years, this stock will suffer. The SP-500 is already at 2003 levels. For NFLX, that would mean a move to $5. If you play it safe and bet on just a retesting of 6-month lows, you’re talking about a move down to $20 over the next 6 to 9 months as earnings deteriorate along with the rest of the economy. Stops would be at 34. So you’re risking 2 points to make 12.
Watch 877 on S&P
Yup.
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Jake, get you some puts in BIDU.
Pressing my bets in a short BOOM scalp.
NFLX is going to revolutionize TV.
Watch for a buyout soon.
RC — no, the only short positions I’m in right now are SRS and EEV, from last week.
Don’t trust China, one way or another, but looks like a good call on your part.
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