Don't pay dollar to keep 2 cents when wrong. Cut your losses quickly. Trade what you see, not what you think.
Joined Oct 26, 2011
719 Blog Posts

Taking a stab at $NFLX

Perhaps it was the Google news- Google Stock Heats Up the Video Streaming Wars;

or perhaps it has to do with the $NFLX daily chart below:


Price action looks like it could not hang on to floating prices after the gapped up.  Today drop may be a prelude to further drop back to the $180 79sma support line.

Below is the  5 min $NFLX chart that gives me the comfort to buy $NFLX June 215 put option at current price point.


The retracement comes into resistance from both the 79sma and 89xma lines. I see small risk from here since I can’t see any new catalyst from Netflix that will propel the price to shoot much higher from this point.

My 2 cents.

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  1. Fidel Cash Grow
    Fidel Cash Grow

    Dont forget that NFLX releases the new “Arrested Development” series later in May and there will be a ton of positive press associated with that. And then personalization should come shortly thereafter but i dont see that being as well received initially as more new orignal content. I sold my position recently and happen to agree with you that the stock could use a breather though.

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    • Zenhunter

      Thanks for the head up regarding the new “Arrested Development” series. I totally forgot about that. Today price action hinted to a possible correction in the near future; but this could easily negate by an up-day either tomorrow or later in the week. If that happens, I will be the first to cut my loss pronto.

      Thanks Fidel for your input.

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