We’ll post a big ass black marubozu candle today, no doubt.
As such, I sold SLCA, BRZU, HUBS, and TNA and bought SOXS and DRIP. I booked gains in SLCA and BRZU, marginal losses in both TNA and HUBS.
THIS IS NOT A MARKET YOU BUY INTO. We are at the top end of a downward channel.
As you were.
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Love the last line. “As you were.” Your generosity to share speaks volumes. Great advice. The tsunami is sliding in so no sense in further muddying one’s own waters. It will eventually settle.
NFLX warns:
Netflix urges fans not to try the ‘Bird Box’ challenge after videos emerge of people driving while blindfolded
Numbersgame warns:
Don’t buy stocks while blindfolded about their financials
NFLX is a bubble. Investors are correct in thinking that NFLX is a relatively recession-proof stock, and that global issues should not have brought down the stock from $400. However, there was no good reason for the stock to rise to $400 in the first place. Some kook on Wall Street would start a rumor that AAPL was buying it, then it would spike 10%. Saem rumor, next month, another 5%.
Stock is moving on pure momentum and brand image. Becuase of this, analyst have tremendous sway on the stock. SunTrust downgrade it yesterday, and if more downgrades come, NFLX will be severely punished. They still have a buy rating, but you don’t go from a buy@$410 to sell @$265 in one downgrade on no news
As you know, consumer nameplate companies are more immune from your mathy analysis than most. “Hey man, that was a good flick …you know you can get a deal on NFLX way cheaper than it was a few months ago?” (Passes joint.)
Anyway, I watch NFLX on an hourly chart. Since the top, it’s been poking above the 20 day SMA then rolling over on the hourly. That’s where it is now.
Thumbs up to all the stupidos out there.
First comes the rotation into bonds, usually. Then, random things start falling apart. The foundation is crumbling.
Prepare for the abyss. Just kidding. Garden variety swoon. It happens…but 10 years is a good run.
HYG EWZ holding up well. VIX headed up but not going berzerk.
Here we go. Going up on volume. Chance to dump may be coming, along with a good entry for shorts.
UGH, I just went long for the ride
TO be clear, I bought QQQ calls, but still ahve short positions
Gap fill would be nice.
BTFD, some crap, SQ,AAPL,XOP,SPY,SOXL…
SPY has been bouncing off its 50 minute MA.