Traders Cooperative

[royg1927]

Roy do you think NFLX revisits 240 high in near term?

No

Possibly 233-235. NFLX ought to run out of gas along in there if not before. Actually, I can write a scenario for puts tomorrow. But I'm gonna sleep on that idea.

There seems to be something going on under the NFLX hood that TA is not revealing. Maybe Cramer gets one right once in a while.

I wouldn't bet anything on NFLX for longer than a day. Intraday trade indicators have been working correctly more than half of the days recently, superb today, with minimal risk. Actually in hindsight one could have made good money holding positions 2 or 3 days duration in recent weeks, but I don't see that as reason to necessarily depend on that continuing.

If you are a day trader, you might well take several cracks at calls, one day at a time that would more than add up to a single trade targeting 240, and be a heckuva lot safer. Or sell covered options if you can afford to have that much money tied up in the underlying. Whatever else, I'd be alarmed if I held shorts overnight in either options or the underlying.

Some say try for singles rather than swing for the fence. Not too bad a notion it says here. Once in a while choking up on the bat trying to get an RBI to the opposite field results in a homer. Sure did today.