I took a long position today with SBUX, for which I will post my analysis later tonight. In regards to NFLX today, I had set atight stop loss order of about just -4%, believing that this could be asign of a ppullback back to its support level of around $52.50. However, I may possibly have gotten whipsawed seeing it bounce back up after hitting $54.00, but we should know next week. I focused on the amount of money I was willing to sacrifice, and did not leave much room for the stock to fluctuate. I did not set the stop loss order below its clear support level of under of $52.50, where it should have been. I am still bullish towards NFLX, and if I wasn't already into other positions I would probably be long again NFLX. I did consider retaking a position with NFLX or a new position with SBUX, but I felt there was less risk and more upside potential with SBUX, despite NFLX being relatively a low risk position if taken. However, it is important to note that NFLX was down today after reports that NFLX's Director and other insiders have sold $2.2 million dollars of shares at an average of $54.48 for the Director. However, in the end NFLX did gain back most of its gains. The chart still looks bullish, but with the potential of a short term pullback at its support level around $52.50. A clear strong BUY SIGNAL would be given with a move above $57.00, and a SELL SIGNAL would be given with a move below $52.50.
MGM - LONG
ABX - LONG
SBUX - LONG
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