Bookkeeping: Selling Half of Netflix (NFLX) on Epix Streaming Movies Announcement

I am selling roughly half my Netflix (NFLX) exposure [which we just restarted Friday] as the stock dances upward to the tune of 7% in a bad tape.  I have a quick 11.5% gain in just 2 days, and the stock is approaching old highs, so I want to sell here and then buy back on a move OVER the 52 week high (or a pullback).  As with any announcement of news like this, the timing for us is just plain luck, no skill involved.

With the Fed announcement in a few hours (which I've noted could be a disappointment since the market is expecting some sort of huge handout that I don't think is coming... yet) I have been content to lock in some profits along the way.  If I am wrong on the Fed and a helicopter drop of fiat currency gets speculators giddy, we'll just reconfigure once S&P 1132 is breached.  Keep in mind there is still a small gap at S&P 1106.44 that needs to be filled sooner or later.  Could be 2:16 PM if Ben does not bend to Wall Street's ransom demands.

Out these shares go near $125; over $127.50 (June highs) OR on a pullback (lower to mid teens), I am interested in buying these stock certificates back.



Today's news that is making the stock dance:

• Netflix Inc (NFLX) reached an exclusive deal that allows members of the online video rental site to watch new films from the three studios that own the pay TV channel Epix.  The deal, which begins on September 1, makes Netflix the exclusive Internet-only distributor of movies from Paramount Pictures, Metro-Goldwyn-Mayer Studios and Lions Gate Entertainment Corp (LGF).  The films will be available 90 days after their premium pay TV and on-demand debuts.