I covered 50% of my shorts at $167 and $165.63. Waiting for NFLX moves up a bit then I will short more again. leaving 50% just in case NFLX may go down to $159 like Monday. I am a day trader. I like to get in and out at the same day. Last trade I had held for 5 days.
NFLX is at its near high. Short or sell NFLX at or above $169. Shorts should have covered at $165 this morning. Be patient and wait for awhile. If you look at the 10 days chart, NFLX is at resistance $170. NFLX had a breakdown on Mon, Apr 8, to $159. Based on the past 5 days, the support is at $163. Buy at support; Sell at Resistance. Just calm down.
OK, Netflix stock is GUARANTEED to go down now, I'm about to buy in long at $169. Mark my words lol... If you're smart, you'll sell short once I buy, it's guaranteed to drop $1 - $3 in a matter of minutes!
Trading is purely based on human psychology. They test your nerve; they pull the rug and see how many weak hands fold. You are a victim of trading psychology. I would say do exactly opposite of what you think should happen. Many times MMs want you to believe that the stock will go up but it won't.
In general, don't short a stock when market is going up or is already up. Buy puts when market has had a good run because it always pulls back a little. Secondly, don't be too greedy. Always sell the rips and buy the dips.
FSTO is at 80, which is high reading. NFLX is at its near high. I would sell or short at this point. Shorts should have covered this morning at $165. Calm down and wait for NFLX to come down. Buy at or below 165 Sell at or above 169.