With all the over lapping waves, Netflix is exhibiting corrective, not impulsive behavior. Regardless, there has been a clearly defined five waves up, so we need to expect three waves down that will take us down to the price range of the fourth wave of lesser degree. That is a long ways down from here.
Netflix looks like it would be something that could be played with options that would be much less expensive than trying to trade amazon. The other attraction is that it is not openly net cash flow positive, with metrics based on increasing sales.
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Surprised, this little 'hit job' got so much interest. And I didn't even whip out commentary on a potential island reversal or head and shoulders pattern pointing to a low target price of $40... Seriously, sand bagging it these days. ;]