I am surprised this thing went up today given its huge recent run.
I am a short. A short term short. It's not that I don't necessarily believe in the company. I have used Netflix and like parts of it. However, a 70% jump in the shares in less than a week does not seem justified based on the news. The news was good, but THAT good? I don't think so. I still think the stock price will come down some but stay above where it was prior to the earnings report. Maybe ~$130ish, guesstimate.
130-is sounds about right; 50% retracement would give back about 35 to 135, ceiling from last FEB could give support at 130, and the channel from the last four months could pull it back to the 100's. 130 is my number to watch for.
I'm of the same opinion and similar position.
This was held up today by the market, robo-buying, and call selling.
AH strength seems based on the fact that they now have a bigger cash cushion.
For what? To burn more cash of course!
I suspect a secondary is not far behind, just like last time they floated $200m in debt and $200m in stock (at $70) back to back. The question is at what price.
If the market reverses, when really, this will reverse much harder.
Some patience required.