People have been talking about abandoning the FANG stocks and based upon this last reaction of NFLX I don't blame them. However, my take on the waves is that NFLX makes one last run at its most recent high before selling off seriously. It ran up even while the market was going down this AM, which is the behavior I love about this stock.
I also was astonished to see AAPL late to the party without a bottom even in place. I started to take notice yesterday and I believe it bottomed this morning, so I took a long position in Jan2 108 Calls. What intrigued me was the huge short interest at AAPL Dec 115 Puts. I don't believe market makers will let that option finish in the money in my opinion. I expect AAPL to finish Friday at 115 from its current 110 level. Rather than gamble with Dec calls, I decided to give myself some breathing room with the Jan2 calls.
Any takes on AAPL on targets beyond 115? I think AAPL needs to get off it rump in order to challenge the all time highs, which I think we will do over the next month.
Edited by thoughtpwr, 17 December 2015 - 01:27 PM.
