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Long NFLX at $242.18



May 23, 2011 – Comments (0) | RELATED TICKERS: NFLX

I was a bit hesitant to go long on anything this morning, but finally decided to pull the trigger on Netflix (NFLX) because a) does much better than the field in bear markets b) bouncing off a nice intermediate upward trend-line c) looking to break through resistance above. I also got into SSO on an extreme negative TICK reading of -1000, which was the only time we hit that level the entire day (so far). My entry in SSO is at $52.35, which likely will be closed out before the end of the day, unless we see a major recovery this afternoon.

Here's the chart on NFLX.

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