I’ve been dissing Netflix every chance I get, but the ferocity of today’s take-no-prisoners rally commands respect. If it were to continue for just one more day, the stock would be an inch from new record highs. The last surge missed a 426.82 target I’d flagged by $3.62, denying subscribers an easy chance to load up on put options at their lows. Even if we had done so, the opportunity to take profits proved short-lived — just a couple of hours on Monday, actually, and that was it for bears’ celebration. Now, I’d be eager to buy the stock if it pulls back to the 385.08 midpoint Hidden Pivot shown in today’s chart, but I doubt we’ll be gifted with such a juicy play. If it comes, you can deploy a stop-loss as tight you please. _______UPDATE (June 27, 9:16 p.m. EDT): NFLX rally continued only into the opening minutes of the regular session, creating a nasty bull trap that sent the stock plummeting more than $20. The dance precisely at the midpoint pivot, 391.89, suggests the stock is now bound for at least 382.04, the secondary pivot, or to exactly D=372.19 if any lower. Check out the latest Wednesday tutorial recording if you’re registered for these classes, since it analyzes in detail the juicy ‘counterintuitive’ short that the deceptive — to most others — opening bars made easily possible._______ UPDATE (June 28, 5:01 p.m.): The Friday jackpot bet I’m suggesting in this stock will need feigned weakness on the opening, then a strong rally, for the trade to work. Bid 0.55 for four June 29 405 calls, good for the first 20 minutes of the session only. You should check the chat room before the opening, since I may change my guidance. This is a highly speculative play, so be prepared to lose the entire $220. Here’s the chart.
