I still like the potential
I still like the potential for probing new highs before a serious downleg begins in the market. But I”m starting to add some shorts.
AAPL, sell short @ 124.50 — Potential to fresh highs at 140 seems to be overcome by at least a temporary detour targeting 116.50 or 111.00. Without this downdraft, I”ll still look to sell my 140 target area.
GPRO — sell short @ 49.75 — Reacting up sharply too earnings, and might extend if confirmed by a second consecutive higher close. But reacting down immediately Thursday would re-open the door to new lows.
NFLX — sell short @ 587.50 (stop 595.00) — Consolidating its recent huge reaction up on earnings, and hovering under my outstanding target area. Meanwhile, Amazon Prime and HBO are getting higher profiles for aiming at Netflix”s market share, making at least a correction likely.
