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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.

This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
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