Folks, NO stock goes in a straight line up or down. We are now looking at the classic "Fibonnaci" type situation here. 50% re-tracement from all-time high.
Most of those who really wanted to sell did so with these massive volumes as of late.
"New" investors are not underwater but indeed are buying at the 52 week low level.
Showing a little bit of strength in a down day for the overall markets should show you that the sellers are getting "exhausted".
Many, many big money hedge funds are still playing the game here folks. They have a lot on the line with NFLX and if it looks as if the "panic selling" has stopped, they WILL step in and buy for another run in the other direction.
I am not talking about the long term prospects for NFLX (frankly, they do have many problems AND their mojo is probably shot) I am talking about the next 20-40 point move...
it is higher from here folks.
Read the charts here. This was most likely a short term bottom/reversal day.
you are so, so wrong. I have seen many stocks go straight dow...it's called a death spiral. I shorted netflix at 235 and covered at 135, and though I expect maybe something to 150-160 if the market rallies and we see a little short squeeze that will be very short lived if it even happens. I will take another short via puts in netflix after the fed and will not cover until 50.
FSLR same gameplan pretty much.
WRONG on NFLX going back up this week...'Maybe' next week 'some' but they are staying down here and most likely going 10-20% lower after DISH/Blockbuster deal on Friday is announced.
The media will grab onto the Blockbuster new streaming deal where you get NEW movies a MONTH before NFLX does and they only get them on DVD where you can stream them on Blockbuster.
The media will say another nail in NFLX coffin and NFLX stock WILL drop on this.
Mark it! I WILL go to the Blockbuster service and drop NFLX like a hot rock.
The best sign for me is the fact that NFLX goes in opposite direction to S&P.
This is normally the first sign before a huge short covering rally after a collapse. I have used this before with great success. I am will add more stocks if we cross 134. I do not know what happens 4 months from now, but the downtrend must be met with covering soon.