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Technology Stocks : Netflix (NFLX) and the Streaming Wars -- Ignore unavailable to you. Want to Upgrade?

To: 2MAR$ who wrote (400)	4/6/2011 9:23:57 PM
From: 2MAR$	Read Replies (1) \| Respond to of 2280

NFLX took a "little 10pt dump" today from touch to $248.88...and @ $13Bil valuation , a perfect Double top being tested with simultaneous touch to 70RSI ... NFLX was a classic "Streaming Short Set Up" From TA there was a perfect overbought/Double top being tested in all this week of trading , within pennies of the former top NFLX sold back down from in Feb @ $247.55. All this week NFLX tried to push past that pivot double top high early on small retail share buyers (buying the top) & sold back down all 3 days after intial "POP" ....mon, tues & today. This was very telling since NFLX had its fair share of good news with a Piper Jaffrey upped target of $280 into Monday's trading ...the news of entering the Candian market ...access to streaming some TV sitcoms such as Madmen (blah) with hints of going INTL. (Since the pattern of trading from prmrkt into the open had all week been a "pop then drop" i even traded NFLX long a couple of times , but only with an eye to short the early overbought spike up which had worked all 3 days..today nailed NFLX at $248's on 2nd am push up after selling the long ) This was a classic Overbought/ Double Top Short ...based on FA as well as TA ....given the entire week's trading pattern & Level II dumping each morning into the retail ...these kinds of set-ups come around often in the market & one doesn't need to trade that often but trade hard when they do present themselves .