OMFG - Shorting NFLX Ruins Weekends for Bears
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 the run up to earnings.
So I'm bagholding NFLX on the short side so that every single waking minute of my weekend can be spent contemplating what a moron I am. Should be fun. Longer term, I believe in the trade. This is a heavily indebted media company with an eye popping multiple that AAPL isn't buying because AAPL is a prude when it comes to content. Nevertheless, I have to see this ill-timed trade every time I log into my account eating up my YTD gains for the foreseeable.
Thankfully, for those who saw my morning chart, I pointed out the danger here and hopefully prevented a few bears from getting trapped in this pain trade from hell.
Lesson: Even big cap stocks that pop 5% premarket on BS research can close 10% higher.
So I'm bagholding NFLX on the short side so that every single waking minute of my weekend can be spent contemplating what a moron I am. Should be fun. Longer term, I believe in the trade. This is a heavily indebted media company with an eye popping multiple that AAPL isn't buying because AAPL is a prude when it comes to content. Nevertheless, I have to see this ill-timed trade every time I log into my account eating up my YTD gains for the foreseeable.
Thankfully, for those who saw my morning chart, I pointed out the danger here and hopefully prevented a few bears from getting trapped in this pain trade from hell.
Lesson: Even big cap stocks that pop 5% premarket on BS research can close 10% higher.
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