Ok, so GS ramps its NFLX price target and I think shorting NFLX pre-market (while on the toilet) because its up 3% is a good idea. Add to the short at $291, even better. This SOB is moving up and if it blows the next Fib resistance at $302.50, probably not a ton of resistance until the next 10% at $335-$340ish. Frankly, I wouldn't be surprised if we got there in...
So NFLX was ripping yesterday, somehow immune to price drops despite my shorting of a massive 1k shares:). Why? Goldman upgrades them this morning with a $400 price target because why the hell not upgrade a company when the PE falls below 100!
Today's morning gap lines up with recent resistance around $281 and while sitting on the toilet I took a semi-fun size...
Anyone trying to short NFLX today is bitter as hell based on the fact this ticking time bomb of a bubble refused to give up gains today. Someone is clearly buying shares and there are a ton of shorts that can be squeezed. Nevertheless, the 61% Fib from 2018 kept it from breaking out. I'd be cautious here on the short side because if the market face rips higher,...
NFLX basically got a stick save on the 24th on its 2018 Fibs - these levels might hold until earnings. However, theres a lot of retracement room from the 2016 lows that would take NFLX full Bitcoin. Prior to earnings, dangerous to short NFLX here because it short squeezes when the market rebounds.
So AAPL found buyers after hours at its 38% fib +/- a couple cents. If Dip buyers flock in the morning, this thing might make a move up to $150 - but then what. If Portfolio Managers are dumping, the next Fib might come into play, especially with deeper market weakness.
