Bulls Close Strong | Stock Trading Recap 9.8.15

bulls close strongSelling into a 3 day weekend. Makes sense. Tough to justify a long for plenty of reasons.

Coming into the trading day, stocks traders had every reason to expect follow though lower. The stock market did not play nice.

Massive gap higher and bulls close strong in the afternoon. Makes sense? No. But we trade what we see.

This is where a day trader needs concrete reference points that tell you to trade or step aside. The long the last two hours of the trading was was a solid play, but for a day trade only.

NFLX (see chart below) continues to show selling order flow and is comfortably below the psychological $100 level. Traders are hammering this one with short-sales.

Bulls Close Strong | Stock Trading Recap 9.8.15

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End of Day Heat Map of the S&P 500
bulls close strong

Netfix Bearish on the Tape

Netflix Declines for 7th Day as Analyst Says Sell Shares

Netflix Inc. fell for a seventh-straight day, its longest string of losses since March 2014, after a money manager told readers of the SeekingAlpha.com website to sell the stock.

Shares of the online streaming service slumped 3.9 percent to $94.90 at the close in New York. The stock, up 94 percent this year, is the top performer for 2015 in the Standard & Poor’s 500 Index.

Scott Tzu, an analyst with Orange Peel Investments, wrote that while subscriber growth at the online video streaming service remains strong, Netflix isn’t generating positive cash flow and competition for viewer dollars is increasing.

Time Warner Inc.’s HBO, Hulu and Amazon.com Inc. have all boosted their online offerings this year, while Apple Inc. is considering its own video streaming service.

Netflix, based in Los Gatos, California, fell for 11 straight days in March 2014, according to data compiled by Bloomberg. The company declined to comment on Tuesday’s trading.

Source bloomberg.com

(click chart to open full size chart)

bulls cloise strong

Netflix Trading At Lowest Level Since Flash Crash

Netflix, Inc.
NFLX 3.89%
shares were trading lower by $3 at $95.79 in Tuesday’s session. It is on its way to posting its sixth losing session in its last seven session since it closed at $117.66 on August 27. The lone outlier was September 1 when it posted a $0.76 gain.

It got a boost off the open from the sharp rise in the S&P 500 index futures. After ending the week at $98.79, it peaked at $102.50 shortly after the open and sharply reversed course.

So far, it has declined to $94.75 before rebounding back to the $96 level. While the broad market has maintained most of its gains following the August 24 flash crash, Netflix has not. In fact, in today’s session, it is trading at its lowest level since it bottomed that day at $85.50

Continue reading on benzinga.com

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