Netflicked!

Netflix (Ticker: NFLXWealth Strength IndexNFLX is Extremely Down and trending Down) is a beloved stock for investors and traders alike. Especially to the upside. I get it and completely understand the love. That being said, I saw a great shorting opportunity in this name. I know that NFLXWealth Strength IndexNFLX is Extremely Down and trending Down can move strongly to the upside if markets rally back. I just don’t think the upside is as grand as everyone thinks now. In fact, there have been more signs of weakness than strength in recent weeks. One hundred percent of that weakness is attributed to Disney and their move into streaming services. It is one thing to have AMZNWealth Strength IndexAMZN is Moderately Flat and trending Down in the field, it is another when a true media conglomerate like DIS is moving into the field. I am not saying it spells doom for NFLXWealth Strength IndexNFLX is Extremely Down and trending Down, but it certainly may restrict any upside move. I feel NFLXWealth Strength IndexNFLX is Extremely Down and trending Down has more of an opportunity down than up for the time being. Of course, things can change in the future, but I am bearish on NFLXWealth Strength IndexNFLX is Extremely Down and trending Down for now.