Netflix (Ticker: NFLX) is a beloved stock for investors and traders alike. Especially to the upside. I get it and completely understand the love. That being said, I saw a great shorting opportunity in this name. I know that NFLX can move strongly to the upside if markets rally back. I just don’t think the upside is as grand as everyone thinks now. In fact, there have been more signs of weakness than strength in recent weeks. One hundred percent of that weakness is attributed to Disney and their move into streaming services. It is one thing to have AMZN in the field, it is another when a true media conglomerate like DIS is moving into the field. I am not saying it spells doom for NFLX, but it certainly may restrict any upside move. I feel NFLX has more of an opportunity down than up for the time being. Of course, things can change in the future, but I am bearish on NFLX for now.
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