A $295 rally target served us well when the stock was trading near $250. But now what? Bulls got trapped so badly by yesterday’s criminally engineered opening bar that it’s probably going to take a while for them to get back their mojo so that NFLX can achieve new all-time highs, as I expect. Assuming this happens, we’ll look to get long using out-of-the-money call spreads when the correction has run its course perhaps by week’s end or early next. Thereafter, we’d be shooting for the 340.47 rally target shown, an important Hidden Pivot that will offer reason enough to reverse our position and get short. Pivoteers may have noticed the very precise action at the 197.19 Hidden Pivot midpoint. As far as I’m concerned, it all but guarantees a rally to 340.47, give or take a few cents. In the meantime, we’ll move to the sidelines while DaBoyz let some of the helium out of this zeppelin. Stay tuned for further advice. ______ UPDATE (October 10): The wicked 15% selloff over the past week has not affected the bullish look of the monthly chart, but it has absolutely wrecked the daily, surpassing no fewer than five external lows. This implies that it will be a long road back to new recovery highs, assuming they come at all. _______ UPDATE (October 14, 10:36 p.m. EDT): Speculators have lost no time bidding NFLX back up to the sky, so we should have no doubts that the bull market is still alive and robust, if perhaps a little silly.  There are no crystal-clear rally targets at the moment, so we’ll use a Hidden Pivot at 366.17 that looks good enough for government work.