shorting Netflix now...
- Thread starter fvaldes
- Start date
agreed. And at this level shorting seems like the only way to go. Lot of competition and their DVD rental business is way down and that was their cash cow.
Head and shoulder pattern formed:
By the way, the last time NFLX was at this level its EPS was $1.32. Right now the EPS is $0.13. Financially it is worse off as it was 2 years ago.
If I were you, I would wait for a confirmation on volume. Last time it broke down, the volume was above 200 million.
By the way, the last time NFLX was at this level its EPS was $1.32. Right now the EPS is $0.13. Financially it is worse off as it was 2 years ago.
If I were you, I would wait for a confirmation on volume. Last time it broke down, the volume was above 200 million.
Hah, NFLX had quite the tumble today ~ 2.30%. The only thing is that volume was very low, at half the average..3m shares traded versus 6.5m shares the average. In other words, today's fall didn't shake out any of the big holders, we can easily see NFLX recover its loss from today later this week.
Watch the $178 level. That is major support. Strong volume to bounce it back everytime it hits that level. If it breaks below it on solid volume, I would say its a solid short till $160. (that is where it last had major consolidation)
Watch the $178 level. That is major support. Strong volume to bounce it back everytime it hits that level. If it breaks below it on solid volume, I would say its a solid short till $160. (that is where it last had major consolidation)