Today’s POD is in Netflix, Inc (NFLX). This stock has shown an amazing amount of relative strength even despite the huge amount of selling early Friday morning. It has withstood a downgrade too four days ago, and it being upgraded this morning. I am looking for a trade above Friday’s high of $295.80 for a move first to the all time high of $297.35 then $300. Once we get through $300 I am looking for a measured move to $310, if not higher. I would risk $2-4 on this one and look for about 10-15 in gains.
By: Steve Levay
Disclosure: No position; plans to initiate position in next 72 hours