I have only 2 short positions and one of them is NFLX (the other is SMH). I completely blew INGN after identifying it as a valuation pig months ago. I also blew TSLA because I let its big mouth CEO intimidate me.
So I have 2 shorts. It is a well established fact that I am not a good short trader when markets are in up trends and I manage market risk in other ways (unless we go on to confirm a bear market or downtrend). Even now I am wondering whether to take the profit on NFLX because, this…
It’s in an H&S that every chart jockey and Algo can see. It’s neckline also coincides with the SMA 200, which is rising. They see that too.
I shorted it on yesterday’s bounce to the SMA 50 and knowing myself as I do, will probably take the profit and not starting thinking about a break of the H&S, at least not yet. Side note, if it breaks below 110 [correction: 310! Thanks Harold] it’s probably going a lot lower.
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