NFLX Follow Up

While I'm not quite ready to short NFLX, there have been some strange charts since yesterday's 12:!5 dollar dump, they may be nothing and clear up today, but I'd rather reduce some long exposure and wait for the larger, initial trade (NFLX short entry/add-to) as the NFLX calls (like most longs right now) are just piggy back rides.

Here's the P/L...

 With a cost basis of $13.15 and a fill of $21.25, the gain was +61.5%, you can click on any of the images above to see the full size.

 This is the NFLX base and it "should" still fire to the upside, the calls had another week on them, but as I said, until I have a clearer picture of the short term charts, I'd rather just lower long exposure.

2 min chart not confirming right now

3 min chart not confirming either and there was good upside momentum to sell in to.

The 5 min chart is not confirming either, this looks like the last two bounce attempts which both saw almost immediate distribution.

If there's another set up and the charts are strong, I'll look in to it, but with the way the charts look right now, I wouldn't enter NFX long so I see no reason to hold it.