timwest

Netflix (NFLX) bottoming process

NASDAQ:NFLX   NETFLIX INC
429 0 4
To start, read the Barron's Article:
The stock jumped last Monday on
that story and then fully retraced.

The valuation of NFLX             seems
compelling down here despite
all of the chatter. A tad more
than 1X's Sales is dirt cheap to me.
Year-end tax sellers will likely
be out of the way soon, if they
aren't already out of the stock.
This is the best candidate for
a January rally.

Average in over 5 days and
figure that 64-63 is possible
to be tested, so 61 stop loss.
Upside to 80-85 in January.

By: Technical Tim 11:57AM EST
Mon Dec 5 2011
(as I am typing this the stock has moved from 68.60 to 69.35, so it is not for the faint of heart. This stock is volatile.)
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