NFLX dropped from my open short order of $205 to $186.
I am placing a stop loss order at $190 and let this trade run.
Netflix is severely overvalued. Analysts are projecting Netflix to capture subscriptions that are more than the total US households. They did not take into account that some subscribers are sharing their accounts or that there are competition such as Verizion TV and a few others.
Netflix should trade at $140 to $160, that’s where it belongs.
Next up, we’ve got CRM. The stock is currently gapping upwards and it looks strong. I wouldnt short it yet. Let Crammer pump the stock a little more. I see $160 as a possible target for CRM is you are still long.
However, the stock is trading at a crazy high multiple, owing to the fact that more and more companies might migrate to salesforce computing app. However, once again, we must realize that competition will be inevitable. Salesforce will not remain as the only cloud computing genius. We will see more ppl coming into this space and analysts will not be able to project the same level of growth.
CRM will be the next DRAGON SHORT.
Macys main store at NYC
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