Netflix (NFLX) and the Streaming Wars Message Board

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Technology Stocks : Netflix (NFLX) and the Streaming Wars

NFLX 103.97

-4.9%

Dec 3 3:59 PM EST

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To: Paul A who wrote (46)	7/4/2003 10:29:42 AM
From: Rock_nj	Read Replies (1) of 2280

I shorted NFLX just beleow $26 (thinking the triple top at $26 would keep it from breaking out) and covered yesterday around $27.70 (just too much risk with a clear break above the $26 ceiling that it might run to $30+ in short order). Although it might pullback and I might reshort, I agree that it seems destined for $30+ at this point. Shorts are running scared, and there's a lot of shorts that need to cover. The break above the triple top at $26 and a possible pre-earnings rally might convince shorts to cover their positions. NFLX earnings are coming in two weeks. The best time to reshort NFLX will be after earnings are out and the short covering rally has played out. By then it might be in the mid $30s. Who knows? It's the stock market after all.

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