Hubert Senters here.
Let’s take a look at Netflix. It is rapidly approaching our first target area of $250, $233. Today right now it’s currently just closed at $254 so four points above our target. I still think it’s going to go lower and with the markets the index futures pulling back a bit that should make sense.
Now if we go over here. I’m going to go over here and look at this indicator which Mark has given a webinar later on tonight. It’s got three parts. I’m just going to show you two parts of it right here. One is the line below and one is the color charts.
I’m just going to keep color charts on top just because it’s easier to explain. In this example, it’s taking the market internal called the NYSE tick and it’s calculating the ratio if that’s positive or negative, it’s going to give it to you.
So then obviously Mark the mad scientist that he is always just fiddling with stuff and making stuff better as you can see this would be a really good place to short. Oh, Netflix on a five minute chart. And then this one would be a follow-up through short on Netflix right there.
You’d avoid the green because you don’t want to go long when it’s green and then you be short, short and then you ride it to your potential. Oh my bad. It’s not even Netflix, that’s NKTR. Well, anyway it’s not fit.
Netflix is an entire different stock. This is in NKTR. Same principle applies, let’s put on Netflix here, NFLX so I can be talking about the same thing. Anyway, makes more sense. So Netflix we’ve got it tagged as going lower. And then as you can see daily almost the same exact entry here different price charts obviously in here.
So short there and then short there, if you want to be a little bit more conservative you could say hey, I want two or three red bars to make sure that I’m okay going short. No such thing as safety and trading but might increase your comfort with the trade.
And then obviously you would try to ride that thing to our target of $250 to $245 in the target area and then if it drops you obviously try to stay short. I’m going to HYPERLINK you to a registration form so you can watch Mark’s webinar presentation on how to use the internal tick, the NYSE tick and how to actually use this indicator.
Good luck. Hope it helps. See you on the next video.
Hubert.
