EDGE TRADER

Thursday, February 02, 2006

Netflix Chart



I mentioned in an earlier post that I was contemplating going long NFLX again. It seems a bit too early, but I am interested again at these prices. Should the support level of 26 hold it might be a worthy trade. Unfortunately, the upside appears to be limited to 4 points with no foreseeable events or news to serve as a catalyst to spark any breakthrough above 30. Still, even 2 points for a swing trade on a purchase in the 26's is a nice return.

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