Greg Harmon was recently a weekly guest on #PreMarket Prep, a daily trading idea radio show hosted by Joel Elconin and Dennis Dick.
Dragonfly Capital Founder Greg Harmon discussed Netflix, Inc. NFLX on the show.
Harmon said he liked the stock if it moved above $485, however, the price action of the past few trading sessions may indicate that it would be capped at $480 to $485 into earnings.
Harmon did note that the stock sometimes makes “huge” moves at earnings releases, often around 12 percent.
The volatility of the stock was not one that Harmon wanted to short in a long-term scenario.
“For a short term play, it’s not in my nature to be short stocks with the broader indices favoring the upside,” Harmon concluded.
Related Link: What 5 Top Netflix Analysts Are Saying Before Earnings
Netflix reports Q1 earnings Wednesday and recently traded at $478.35, up 5.23 percent.
Listen to the show here:
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