Netflix and Fan Lines

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First off, regarding today's mega-rally, I have three things to say:

(a) I'm glad the endless wait on the Euro is finally over;

(b) thank goodness for my longs;

(c) and thank goodness that cash can be a position too!

One specific long possibility is none other than battered-down Netflix (NFLX). I threw down a Fibonacci fan line on its extremes, and lo and behold….


Looks like a pretty decent basis for support at these levels.