Maybe, maybe not. Maybe gold will emerge as a refuge from the scams--Bernank bux, tulip bulb syocks etc. Gold is real.
Anyone who thinks Flo & Floyd will pick them a good head of lettuce & avocados & it will remain fresh & unbruised after shipping , by all mean buy. Me, no thanks. I'm such a skeptic.
"A sucker born every minute"--P.T. Barnum
Sentiment: Strong Sell
But Icahn knows when to lock in profits. That's how he got to be a multi-billionaire. Very shrewd man. Maybe the rest of you should follow his lead and sell or hedge, at least.
If you think Netflix is a value almost 7 times the price of barely a year ago & PE above 200, fine, buy it. Be my guest.
How do you know? Use put spreads, not shorts. And these stocks swing down too. At these nosebleed levels, I would say down is the more likely ourtcome :)
If you represent the mentality & IQ of the typical bull at these elevated levels, I'll leave others to judge the merits of the bull case.
Most likely outcome is something between 30 and 60%, 45% correction of the move would bring Netflix stock to $225 area.
Using $50 as the approximate point of where the rally started, and $370 as the approximate high point, a 30% pullback from the high would bring the stock to about the $275 level, while a 60% correction of the rally would bring ithe stock price to approximately $175. This assumes the stock is still in a bull move. If not, then even $175 level could be penetrated.