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Technology Stocks : Netflix (NFLX) and the Streaming Wars -- Ignore unavailable to you. Want to Upgrade?

To: 2MAR$ who wrote (401)	4/6/2011 9:35:17 PM
From: 2MAR$	Respond to of 2280

* Also what was telling about NFLX previous Feb touch to the $247 pivot high (& extremely overbought) was how it began to sell off right after eps ...even before the news came out of Farcebook & AMZN choosing to enter into this space . But today DISH bid was accepted for BK Blockbuster inventory and CNBC trotted out Leonard Brecken small New Jersey based fund mgr to restate his thesis again he believes NFLX will take a 70% haircut within the next 12mos . This was older news but CNBC loves a headline but did create a perfect little storm for a bear raid ;) businessinsider.com Leonard Brecken predicted that Netflix (NFLX) is going to fall 70% within 12 months. He was on CNBC’s Fast Money and told viewers that Netflix is playing accounting games and that content costs are skyrocketing. He also said Netflix has $1.4 billion in off-balance sheet content obligations (including the deals that are in the pipeline) and Netflix won’t be able to make its money back. He claimed Netflix needs 80% penetration of the U.S. broadband market- which is next to impossible. Leonard Brecken is the founder of small NJ based hedge fund Brecken Capital. Brecken was on CNBC last month, right after Whitney Tilson announced that he covered his Netflix shorts. Not all hedge fund managers are bearish about Netflix. John Griffin’s Blue Ridge Capital bought Netflix during the last quarter of 2010. Below is the video of Brecken’s earlier Netflix comments on CNBC Read more: businessinsider.com ** Well he was a little early last month calling this on 4/3 , which is why i listen to CNBC rarely while trading & just follow the charts ;)