Please refer to previous trade updates to fully know what I am doing here.
To recap I had $27 in my real trading account for the month of May and I had planned to trade in gold for the next week but couldn't hold myself when I saw a delicious opportunity yesterday.
Read more below.
The Redness
If you were even a tad bit active and monitored the U.S stock market then you'd know that Netflix after it's result declaration took a nose dive from around $350 per share to $250 in a matter of just days.
Results were very negative not because it reported a loss but it reported a negative subscriber growth.
See below .
I shorted Netflix at 206 yesterday, hoping it would go down more but currently it is going the wrong way at the moment.
Market closed at $210.
The whole market was in swings yesterday with my floating P&L ranging from $15 in profit to $15 in loss finally closing in red. I was really close to wiping my account as well BUT I am pretty certain that there is absolutely no reason for Netflix to show any kind of strength or investor confidence after the disastereous result.
Strategy
I know that the current $27 that I am playing with aren't safe with the kind of aggressive trades I am taking so if I am lucky with this trade I will be taking a brake from trading till 1st week of May probably. Will keep y'all updated.
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Take care. Peace out.
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