{"id":22863,"date":"2013-10-23T11:26:33","date_gmt":"2013-10-23T15:26:33","guid":{"rendered":"http:\/\/www.ino.com\/blog\/?p=22863"},"modified":"2013-10-23T11:26:33","modified_gmt":"2013-10-23T15:26:33","slug":"is-it-all-over-for-netflix","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2013\/10\/is-it-all-over-for-netflix\/","title":{"rendered":"Is It All Over For Netflix?"},"content":{"rendered":"

Hello traders everywhere! Adam Hewison here, co-creator of MarketClub, with a special look at Netflix (NASDAQ:NFLX<\/a>).<\/p>\n

\"\"<\/a><\/p>\n

<\/p>\n

The market action in Netflix yesterday suggests that for the moment this stock has put in a fairly significant top. While all of our Trade Triangles continue to be in a positive mode, yesterday's market action created a \"negative engulfing or bearish engulfing pattern.\" A top will be confirmed should Netflix close lower today.<\/p>\n

Also notable, Carl Icahn has sold a shade under 3 million Netflix shares since Oct. 10th, at prices from $304.23 and up. The largest portion was the 2.4 million shares he sold yesterday at $341.44, for more than $819 million. Mr. Icahn still owns about a 4.5% stake in Netflix.<\/p>\n

While the major trend in Netflix continues to be positive, it is going to take some time for this stock to repair the technical damage that was created on Tuesday. I would not be surprised to see this market quiet down and begin to regroup after yesterday's massive $68 trading range.<\/p>\n

Several of the major stocks I discussed in last Thursday's post became great examples of a \"52-week new highs on Friday\" trade.<\/p>\n

Netflix (NASDAQ:NFLX<\/a>)
\nPurchased on Friday @ $333.18
\nExited on open on Tuesday @ $387.84
\nProfit on trade: $55.71<\/p>\n

Facebook (NASDAQ:FB<\/a>)
\nPurchased on Friday @ $54.21
\nExited on open on Tuesday @ $54.33
\nProfit on trade: $0.12<\/p>\n

Apple (NASDAQ:AAPL<\/a>)
\nPurchased on Friday @ $508.60
\nExited on open on Tuesday @ $528.40
\nProfit on trade: $19.80<\/p>\n

Here are the three rules you need to make a \"52-Week New Highs on Friday\" trade:<\/p>\n

Rule #1: On a new 52-week high, when the market closes at or close to its high on a Friday, buy and go home long for the weekend.<\/p>\n

Rule #2: Exit long position on the opening the following Tuesday.<\/p>\n

Rule #3: If the market opens lower on Monday, exit this position immediately.<\/p>\n

As always, I appreciate your comments and questions, so please feel free to leave them on this blog.<\/p>\n

Every success and have a great day,<\/p>\n

Adam Hewison<\/a>
\nPresident, INO.com
\nCo-Creator, MarketClub<\/p>\n","protected":false},"excerpt":{"rendered":"

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