NFLX technical bounce from lows is not significant as it remains below the 200-day MA with lower highs/lows; short-term traders should reduce exposure.

Moving on to Netflix, started the week at 80 bucks. shares continue to drift higher, up 1.9% this week at 8172. The company might add other rival streaming services to the platform.

Peacock and others. I thought this was an interesting, this is probably something I'm sure that's been floated in a meeting. The only thing advantage I think it could give to Netflix, and I don't know if this is true or not, but Netflix could actually gain insight into some of what is working on some of these other platforms.

Think about it. If you can log into Netflix and you can watch Peacock and Amazon Prime and whatever you want, well, Netflix retains some of the data of what you are watching and they can design programming and advertising around you.

And so I actually think that would be kind of interesting if Netflix ends up doing this. My guess is this is just a rumor.

also not included in the press release, but you did have that drop of the extended footage of Grand Theft Auto 6 on the platform yesterday and I watched that right before I went to bed and my goodness, I can't wait till November that the game looks incredible.

Netflix, beautiful move off the lows. We're seeing this cross software. We're also seeing it in Netflix. These beaten down stocks have bounced off the lows. Now, does it mean a whole lot?

Not really. You need to close above the 200 day moving average. Even that doesn't mean a whole lot. You were still making lower highs, lower lows, but this was a nice move off the bottom.

If I was in Netflix for the shorter term, I'd probably start to peel off a little bit of that trade.