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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.