Shorting Netflix right there, not based on anything but COMMON SENSE! I mean, just look at the chart, Netflix is literally on the moon. It started pumping in December, roughly when Bitcoin topped. The same kind of people who were buying Bitcoin, went to rush into the Netflix gold rush through their robinhood app. It's an overflow of stupid, retail money that will chase these hype stocks.
All these bubbles mostly go in 4 steps, we are in the last one where we are going vertical and it's about to end. This is the top in my oppinion.
There will soon be no greater fool to buy the stock, those who bought a few years ago will start massively unloading and distributing those stocks and opening short positions. Good luck everybody, for me this is an obvious short.
If i am proven wrong and Netflix did go to 490$, i can't even imagine how a chart would look. Straight candle up? Fool me once, shame on you. Fool me twice, shame on me. I'm not falling for this crap. Short Netflix.
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This is the top in my oppinion. Today is likely the highest price Netflix will see for the foreseeable future.
I could be wrong, but i can not imagine how it will look like then. Anyways if it goes higher, you short more.
If you are right about the bubble, then we will have time to jump in for a big slide down...once we have a sign of it happening! But right at this time the only sure thing is price action. Trying to catch the top is wishfull thinking. Very dangerous thing to do.
poorPeep
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@Nickelor, I agree, perhaps the best thing would be to wait for reversal. Because even when it tops, there's usually an area of distribution, while people are still buying and waiting for the next leg up, but it's poised to go down
UnknownUnicorn1246527
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Seriously I was thinking this all day! Just look at the chart, and still you see these lemmings buying up here. Do they thinks it's just gonna be a straight line up to $490? Foolish...
pmcllc
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makes a lot of sense but the big dogs can drag your patience down to oblivion and make you capitulate....but it looks like a good short even if it goes to 490 still a good short imo
Jellyfish24
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but when? it has earnings in July...
poorPeep
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@Jellyfish24, Yeah it's hard to know... It's getting very ridicilous though, but who knows, this FOMO could push it up even 50$ higher.
Jellyfish24
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@poorPeep, I start to believe that, when something is very very obvious in the stock market, is not going to happen...
pmcllc
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@Jellyfish24, that make sense too but it does not happen all the time.. maybe this is that time?
Jellyfish24
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@pmcllc, the key is when is gonna happen.there are smart people, powerful investors who have the same chart in front of their eyes and they know what other people think, and they have to make money, otherwise everyone would be able to short NFLX and get rich.
UnknownUnicorn1246527
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@Jellyfish24, How is that different from everyone thinking they can buy Netflix and get rich?