MOMO'S BREAKOUT BOARD

[dmlabuda]

You asked about Netflix. NFLX right now appears to be a strong bear market. There will be a lot of false double bottoms in a bear market. One way to separate the real ones from the false is by watching the volume. As you can tell on the daily chart (link below) there was not significant volume concerning the recent double bottom. Therefore, in my opinion, it's not a true double bottom. http://stockcharts.com/h-sc/ui?s=NFLX&id=p45068287272&def=Y&listNum=4

If you look at the hourly and 15-minute charts however, there does appear to be oversold conditions in the short-term and therefore, a rise in price seems possible now. So, I would hold on to it if I were long at this point. Pay attention to the next interim market top and be on the look out for a bearish divergence that would indicate that prices could move significantly lower.

I've given you a person mark because it's obvious to me that you seem to know what you are doing. I'll be following some of your selections and maybe we can trade a few together in the future. Good luck to you.