Zero chance this is true. Cant make money long-term with this strategy. As you point out, the bid/ask spreads are just too great. Also, this is all short-term gain, and subject to 55% tax if you live in CA and make good money. Complete loser strategy. Trust me.
Go short after it pops over 2% in one day on no news. Like today. Go long when it drops more than 1% in any day. Cover quickly. Or just hold LONG forever, as you say. Either method works.
Congratulations. Just keep hanging on forever. That's one of two ways to play this. The other is trading the ups and downs as well (much harder to do successfully). Although if youre a buy-and-hold forever guy, not sure why you'd want to waste your time on this board?
I shorted again today when it hit 623. Will cover for a 5 buck profit hopefully. Same thing every day. You are right that the long term trend is up, so a buy and hold is another legitimate strategy here.
You are right about covering too soon, but this is a crazy swinging stock that can OBLITERATE you either way; as you know from your days shorting this thing long term before finally throwing in the towel. I play it around 2k shares each time. Goal is a quick 10 grand with little risk. Most of my real $ is in index funds. This is just my play/trading money.
I shorted today at 627 and change too. Not long term either, Cover on pullback.
Agree. Ive covered and made my profit for today. Trend is UP, but of course will retrace along the way
Very impressive that the market has absorbed this and it's BAU at NFLX. Consolidating here at 615 before its next run.Thought there was some chance of a 10 point pullback today but not gonna happen. 37 billion cap is the new normal and heading for 40 bil.
Nope. Covered for a nice $6 profit and made back Friday's loss. Thank you NFLX. This is a traders dream or (especially) a long-term buy and holders dream. Either way.
You're still up, but now it's down to 10 bucks. Dont see your 620 this month happening. Looked so strong the other day but turned out that was just on a one day story-and-upgrade. Trend now is down. You might want to reconsider this one. Or have a strong stomach to ride it out.
Shorted yesterday at 588 and change and got out with a lousy 5 buck profit on 2k shares but I'll take it. This is not a long-term short, as you learned. Either a buy and hold forever or a very short-term trading play. Enjoy. Still think you got in too late but I guess you're up 20 bucks, so it's a win so far.