NFLX had a spike low on the CCI followed by a new low. Then recently we had a spike high on the CCI leading us to where we are now. What we need is a new high around the $190 area to start adding to the short position again.There are major outside factors affecting this company. I have stated them numerous times in my blog post. The current multiples are not sustainable and studios wanting higher fees and increased competition are serious factors. The only variable before had been buyout speculation. This point has been taken into account and I believe at these valuations it is not possible. Google, AAPL, AMZN, MSFT, and others don't want the distribution they want the content rights. With all of these contracts coming up for renewal and NFLX faces higher costs and increased competition.
As said in other post I am short NFLX even though I think it could reach $190.
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