I sold my Netflix Positions last week based on the continued ramp up of shocking days (indicated on the chart) combined with negative divergences on the support indicators. Add to this the Head & Shoulders top forming on the medium term weekly chart and we see a picture of short to medium term violent decline. It is interesting how when you sell your stocks it relieves you of the wish to see it go higher, you actually wish for it to go lower so you can buy back in at a bargain basement price. With a PE ratio of 100+ last time I checked we will have a while to wait for a bargain. It is a great company, but not a great HOLD right now.
Another timely and excellent post. Thank you for your excellent show of divergences
which continue to make your posts very illuminating.
Watch for a Weekly Close,.. Below 328 to Confirm Continuation Move to the Downside.
Company has ridiculous PE ratio as mentioned, along with Millions of $ of Cash burn a day for content.
At some point in the cycle, market seems to realize NOW, their business model is bound to catch up with them.
THE_UNWIND