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Forget about this guy today. He was not the superstar.
This was the big thing today. Click the chart to enlarge:
by Gavin M.
Who cares about Greece when you can make a quick $3-$7 per share or per contract on NFLX? Just the same, who needs to worry about the EU meeting when AAPL went ballistic from 127? In this day and age of timely placed tweets and headlines, was there ever a doubt that some weird thing would've happened soon as NFLX hits the highs from yesterday's after-hours session?
While we really will not know when Icahn sold all of his NFLX position, the lesson here is to always put a stop limit. I was as shocked as everyone when Icahn yanked all of his longs off NFLX when isn't it a fund manager's wet dream to see the stock he's on for years go limit up some more?
That big RED candle on the 5-m chart was Icahn's tweet saying he was all out of his position on NFLX. Like a good fund manager, he staggered his exit orders. I was out of NFLX around 701 thinking 702 - 705 was key resistance levels. I never wait, and I never hope. No one has sent me or us an email today that they lost money on Netflix.
Of course, Icahn's tweet was a double-edged sword. Bad for NFLX bulls but good for AAPL bulls. He said that he expects AAPL to do the same thing as NFLX. It was basically a call to arms for everyone to be bullish on AAPL and my short on the fruit did not work out as soon as his tweet came out. You can call it a casualty of war but in the battle against these asshole billionaires, they always win. Why? Because they have billions and I am some poor schmuck stuck in my small office at home.
At this point, one should e-mail Icahn and ask him how much he charges for his newsletter. Because that would be something I want to pay $5000 a month for.
Traders from Equity Sense will be writing on this blog on positions and other market-related things.