NFLX Head & Shoulders [w/ edit]

[edit] Cover another successful short in NFLX on the tank job. Maybe I will never be a heroic, go for it all short trader but over the last few weeks I have been a successful one. I am going to day trade the trading account that I use for shorting and be nimble with this stuff. I’ll keep it on watch as a short if they stick save it again.

I have shorted and covered this pig successfully twice over the last couple weeks. But the big trade – if it goes my way – would be for the neckline to break as it has tried to do a couple times already before getting kick saved. I shorted bounces to the SMA 50 and covered drops to the SMA 200. No big gains, but okay. Yesterday, per the Trade Log, I shorted NFLX on the bounce to the SMA 200.

So far it’s working okay. I am the first to admit I am the furthest thing from a professional or accomplished short seller, but so far so good. I’ll manage risk with the SMA 200 in mind. Meanwhile, the implied target would be around 210, which conveniently fills a gap down there from January.

Separately, you’ll notice I gave us all a break from the Men Who Stare at Charts shtick.


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