Are you kidding me? It's over $19 now! This is 1999 all over again.
That's right, VLTC, a piece of #$%$ that Icahn claims he owns some of, has gone parabolic. There are no shares anywhere to short, I've tried all brokers.....This is bubble mania for sure.
Something has to give with the VIX, and VXX....I mean with a Dow tape down over 80, this thing is down .13 as I type.....Are traders really THAT complacent? We're long overdue for a crash, or a big move down. If that's not a catalyst for a big move up in the Vix, nothing is.....
I'm afraid IBD is a lagging indicator. The price action may not mean much now, but it just seems like it's trying to correct.
Back in 1999, the SEC came up with the pattern day trader rule, whereby unless you maintained $25,000 or more in your trading account, you can make no more than 3 day trades (round trips) in any rolling 5 day period. If you exceed that (over 3 trades), you no longer can trade in your account, unless you bring in cash, to have your account in excess of $25,000.
Talk about a big brother archaic rule! So this means if you have $25,000 or more in your trading account, the SEC assumes you're more of a responsible person? LOL...what a joke. Has anyone heard anything at all about this rule ever changing?
From Investor's Business Daily report yesterday regarding LCI:
"However, analysts estimate that both profit and sales growth slowed sharply in the period that ended in March."
The stock actually broke down yesterday technically, and the move was exacerbated today by the broader market. I would wait until at least $60, because that's where it looks like it's headed. That's my plan to get in.
When oil was way down in December, every analyst and strategist said low oil is a "net positive" for the economy. So now that oil has recovered a lot over the past few months, you have the strategists cheering, saying today "the next move is to get crude over $65, so it will go even higher." Yet not one talking head has said with oil rising back up, the extra cash benefit at the pump no longer exists. Why do all strategists and others create their own self-fulfilling prophecies, and lie in the financial media to enhance their positions? The bottom line is they don't really care about the economy, they only care about their million dollar portfolios.
1. Lannett just participated in an analyst's conference, and apparently they did not raise or reaffirm their guidance, so that may have investors on edge.
2. More likely though in my opinion, I don't think the Sherman probe investigation is over, at least I haven't heard that it is, so apparently it's still ongoing. Markets never like uncertainty.
I don't understand this move at all, and I think there's collusion among the analysts and their clients. Of course the SEC ignores all this. Netflix missed their numbers by a lot, but the casino is still open, because apparently subscriber growth is worth a move of over 100 points in the stock price in the last 9 trading sessions.
So to your point, yes I'm thinking of going short here, because I think this will all end badly.
And in a market crash, like some are calling for, a stock like NFLX could fall 150-200 points.....Good luck.
Netflix did not discover a cure for all diseases! And now the analysts are calling for price targets like they did in 1999.....And all you have to do is miss your quarterly numbers by a lot, like Netflix did, and the stock goes up over 100 points in less than 2 weeks.....Anyone not taking a profit today is insane....No, I'm not short, just realistic.
To be honest, they need to be busy, to justify the $4B market cap with only about $400M in revenue, and without the growth to justify this valuation. However, although there's a lot of competition, I do like the space they're in. I don't have any position, but I was thinking of going long, but only if it returned to the low $50's.
So typical and predictable after a $53 move up in AH someone would come up with a post like yours. I'm not short, nor would I ever short Netflix.....It's just grossly overvalued like the rest of the market.
They need to let management do their job, and not come out publicly with what "they" think the company should do. So what if they own a lot of shares? If they don't like the way the company is run, why don't they sell their shares and move somewhere else?