NFLX NOT A BUY YET! where is the near term bottom?
Today's low was $211.52. I do not believe the bottom is in yet. Next level of support is around $196.00. I will likely start buying at $205 and adding every $5 below. Looking for a bounce on NFLX to $230-245 range once bottom is in. NFLX blew right through my $267 support and next level of $230 support. Tomorrow is options expiration likely not to get a lot of range in tomorrow. Perhaps Monday this will be ripe to start buying for a bounce. NFLX is oversold but can and will go lower.
Catatan
Friday printed a lower low of $210.05. Don't be fooled, the bottom is not in yet! I'm wary of Fridays with options expiration. For now, I am watching. Any strong rallies are to be sold short on NFLX. The game is over
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