Over the last couple of years I've done posts where I have highlighted my short trades on NFLX. Don't get me wrong, I don't have some hatred for the company or the service, in fact, I think it is cool and as a late technology adopter I would love to obtain the service one day. I have an issue with companies that become over-valued and NFLX certainly has been one of those stocks. (You can insert many a high-flyer with a PE ratios that are obscene).
In December of last year I was targeting $175 as an exit for a successful short.
Here's a nice little update on NFLX as we see how powerfully and violently the once favored stock has fallen. I expect some bounce around $100 which is still $18 or so south of where it is trading this morning.
Somehow, I think we'll see a lot more of this type of action with the broader market. Make sure you are defensive.