SSS - Follow-Up on NFLX Short-Sale Set-Up Alert of Four Days Ago
If one went short NFLX four days ago on either side of the 180 level per our Short-Sale Set-Up alert sent out last Thursday morning, Pacific Time, you now have about 50 points, or more importantly 27.7% profit in the position. So, this would be a logical area to start thinking about taking profits, unless one is taking a longer-term view and willing to sit through any bounce with the idea that the stock will eventually clear $100 to the downside. We think that is certainly likely over the longer-term, but it is not clear how many bounces the stock will take, if any, on the way there. NFLX has been a "gap-down streaker" over the past four days, and volume was 499% above-average today - huge selling, which could be the start of short-term capitulation on the downside.
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