It's perfectly normal for Netflix to "correct" by over 50% from any peak. I'm expecting a lot of selling going forward. No fund manager wants a high beta stock like Netflix in his/her portfolio in this high risk environment. I've been short since 115 for this reason. I publish now because it's "chartible" since there's confirmation.
Fundamentally, don't care too much. But just for kicks, macro picture is ugly/high risk. Internally, 550 million subscriber base potential. Indonesia is no longer a customer of theirs as of, yesterday (85 million customer market). Competition.. bla bla Booyah.
My method of execution will be summer put options with my target as the strike.
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MAKE SURE YOU TAKE THIS TRADE!! We're down on a huge day for the market on the last day of the month! So this long term trend break will be confirmed as of today. I bought June 2016 $45, $50 and $65 puts. Yes, that bearish. GL