I know someone who bought quite a bit of shares at 22-23 I keep telling him he should sell and cash in now. This is the problem with your typical investor, they get lucky and pick something that returns great numbers and will refuse to sell out of greed. Like if somehow NFLX is gonna go to 1000 Look at all the fools who had 300-400% returns during the dot com but rode it down to -100% returns.
It looks like it just broke out of its resistance. I have no opinion, could go higher, could go lower - don't care either way. But it is hard I am guessing to let go of something that is continuously making you cash. I am sure there will come a time where there will be much better opportunity somewhere else, perhaps there already is. http://finviz.com/publish/092310/NFLXc1dl1907.png
If the earning on 10/18 isnt exceptional it will be a major drop. Expectation is sky high right now, if it continues like this into earning, plan to go in hot and heavy friday before earning on the short side. For now looking to do some short term trades,nothing major. ------------------------ As for the guys bitching about ttowntrader trades. If you have nothing to add about netflix or your own positions then shut the fuck up. Stop being so happy because someone else lost money on a trade, sore loser behavior. Noone gives a shit about your after the fact analysis. I dont know if ttowntrader is bullshitting or not, but his exit was posted real time and match the price action at the time, and he did post a screenshot of the trade blotter. More than most of you whiny fuckers ever done on ET.
The guy lied period. Its obvious. Perhaps Elitetrader needs to create a Fiction section to put some of your rundowns of supposed trading. As an active trader I am quite aware of what seems unlikely ( see ttowntrader's previous posts on intraday profits on shorting rising stocks ); when he posts an even more unlikely scenario I caught the lie. To have made more trades would have required trading against his strategy and a complete lack of discipline. He posted he would stop out at losing a "couple of thousand" and posted a 400 share short. Only after I pointed out real time he was down huge on that trade did he suddenly claim he made many more trades ( seemingly without commissions ) and doesn't use stops. I understand you believe in this bs but you also seem far too happy shorting nflx yourself. Normally I couldn't care less if someone makes or loses money on these gambles but in your case I genuinely hope you and your buddy get owned you deserve it.
I deserve it for pointing out you are a piece of shit? Already said i dont know the guy or if he's paper trading or not. But taking pleasure in someone's trading loss makes you an asshole. And who gives a damn if he's paper trading or not. Actually dont even know why i waste time with your garbage, thanks for spamming this thread with your bullshit now go troll the sheeps on the yahoo board instead.
Actually, it was myself who posted how much I was down on the trade and then again I posted how much total I was down at end of day. The idea of scaling in and out and cost averaging is apparently completely lost to you. If you look at any fill I have posted on here, it has been within seconds of the real fill taking place. Off topic, I have never recommend anyone take only short exposure in their account, that would be stupid, I maintain enough short exposure on overvalued names to hedge long portfolio ideas to give them time to work in a highly manipulated market. Back to nflx, the fact is most people who shorted it yesterday ended the day in the green. For today, you will probably get some chances to short around 163 to 165, and then close the trades late in day or early next week.
nice, key level 165 was hit today. Closed a weekly expiration short vertical ~$1100. BOT 3 NFLX false SEP 24 '10 165 Call Option 0.20 14:23:24 2.14 332.62 null + BOT 17 NFLX false SEP 24 '10 165 Call Option .300 14:26:45 10.54 1716.44 null NFLX SEP2010 170 C [NFLX 100924C00170000 100] AMEX 20 USD 0.02 40 47.71 -914.27 0 No OPT (didnt close will expire)
Here's what you don't seem to get. You posted two trades on this site, the result of which is a loss of $1432 plus commissions. You claimed to have only lost $380. You then post this ridiculous diatrabe claiming I do not understand what scaling in and cost averaging is. Buddy, read your post, you clearly stated a "cost average of 155.88". So what are you saying that we must be stupid to take your trades at face value as stated; that we are supposed to presume when the trades go against you that you doubled or tripled your exposure hoping for an intraday drop that may or may not occur ? Please do explain. If you really are trading as you say its a REALLY, REALLY BAD TRADING STRATEGY. Much worse then I imagined in the first place.
Bought this thing around 53, sold around 100 .... But DAMN this thing won't stop and of course now i'm thinking woulda coulda shoulda but Pigs get slaughtered right. Netflix needs to step up their streaming material to a more broad based selection and then they will dominate the world.