OT: NFLX shorting plan:
The stock hasn't gone below its 200dma since December 2008. It is trading on momentum and dreams, not fundamentals, just like CSCO in 1999, so there isn't any telling how high it goes. For now, my plan is just to short more every 10% upmove (so, next shorts at $270, then $300).
My other shorts (KLIC, UAL, JPM) have less bullish charts, so I feel more comfortable shorting more of them, and holding them longer. I may cover my NFLX short when it hits its 50dma ($225), and wait for higher prices to re-short. For now, I won't short more on lower prices, as the chart just looks too bullish. The time to short more on lower prices, is when it violates its 200dma, and the 50dma crosses below the 200dma, like the airlines are doing.
Bullish, short cautiously and cover aggressively:
Bearish, short aggressively and cover cautiously:
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