28 February 2007

NFLX Revisited

Went ahead and shorted NFLX (once again) as the NQ futures hit resistance in the 1780 zone...I think we head back down from here but I don't feel like playing the futures today...looking at the $44 QQQQ puts as well but I like NetFlix here to break support levels about forty cents underneath today's lows of $22.10 for a shot into the $18 area...Relying on the gut here that investors will kick out the names like NFLX whose story is getting long in the tooth and whose main business is being eaten alive by natural market forces.

Internals slightly positive as futures roll back from resistance levels...1420 in the S&P...might get the dive bomb here if the internals flip read...no easy going for bulls or bears today...jfg.

No comments: