A quick look at Netflix (NFLX) (November 15, 2012)

by DAN NFLX 
I’m Dan Fitzpatrick with StockMarketMentor.com on Thursday, November 15th. While the market took a little beating today, it’s actually kind of stabilizing, but that’s only for a moment. Netflix ( $NFLX Netflix, Inc ) continues to move higher, now this is one that I had covered, been covering from time to time, as it has been working through this flag process. After a big move higher the stock consolidated, declining volume, this is what you want to see, and now the stocks drifting higher to where it’s not just starting to push through the 200-day moving average; so if you’re long this stock my suggestion would be, add on any dips, as long as the stock stays above this level. If Netflix ( $NFLX Netflix, Inc ) breaks down below this level you’re probably going to see it fall another $10.00 really fast to hit that 200-day moving average, where it did actually bounce last time. Just keep in mind, this is kind of a long-term base, but it looks like it’s moving out to the upside and it is moving contrary to the market, it’s moving counter to the market, which means money’s actually flowing into this thing or at the very least not flowing out. Okay members, Strategy Session, fairly short one tonight, but I want to tell you what’s happening so you can be positioned properly.

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