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Web Extra: Burned by Netflix

Tuesday, 21 Dec 2010 | 6:04 PM ET

A long position in Netflix looked like a hot trade but all it did was burn Guy Adami. So how is he playing this stock now?

The Negotiator made the fateful call on November 30th as a bet on a short squeeze.

“The thing about Netflix is these shorts are slowly bleeding to death,” he said at the time. “I still like the name…. with 30% short interest everyone will start chasing this stock on the upside.”

Looks like the shorts got the last laugh. Since Adami said to get long Netflix is down about 11%. So what does he have to say about this stock now?

Find out in this web extra. Watch the video now!

Fast Money Web Extra
The Fast Money traders offer special CNBC.com-only advice on your investments.






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Trader disclosure: On December 21st, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Seymour owns (AAPL), (BAC), (F), (FXI); Adami owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Adami's wife works at (MRK); Finerman's firm is short (IJR); Finerman's firm is short (MDY); Finerman's firm is short (SPY); Finerman's firm is short (IWM); Finerman's firm is long S&P puts; Finerman's firm is long Russell 2000 puts; Finerman owns (AAPL); Finerman owns (BAC); Finerman owns (CVS); Finerman's firm owns (CVS); Finerman owns (GOOG); Finerman's firm owns (JPM) and (JPM) leaps; Finerman owns (JPM); Finerman owns (MSFT); Finerman's firm owns (MSFT); Finerman's firm owns (WBC); Pete Najarian owns (KRE) calls; Pete Najarian owns (YHOO); Pete Najarian owns (MSFT) call spreads; Pete Najarian owns (AKAM) call spreads; Pete Najarian owns (V) call spreads; Pete Najarian owns (WLT) call spreads; Pete Najarian owns (C); Pete Najarian owns (MS); Pete Najarian owns (NKE) call spreads; Pete Najarian owns (GE); Pete Najarian owns (F); Pete Najarian owns (BBY) calls; Pete Najarian owns (SMH) call spreads; Pete Najarian owns (M) call spreads; Pete Najarian owns (HK) calls; Pete Najarian owns (MRO); Pete Najarian owns (CNI)

For Brian Kelly
Accounts Managed By Kanundrum Capital Own (BBT)
Accounts Managed By Kanundrum Capital Own (FCX)
Accounts Managed By Kanundrum Capital Own (GLD)
Accounts Managed By Kanundrum Capital Own (JPM)
Accounts Managed By Kanundrum Capital Own (MCP)
Accounts Managed By Kanundrum Capital Own (SLV)
Accounts Managed By Kanundrum Capital Own (WFC)
Accounts Managed By Kanundrum Capital Own (CLP)
Accounts Managed By Kanundrum Capital Own (IPI)
Accounts Managed By Kanundrum Capital Own (LYC.AU)
Accounts Managed By Kanundrum Capital Own (MON)
Accounts Managed By Kanundrum Capital Own (XLE)
Accounts Managed By Kanundrum Capital Own (OIH)
Accounts Managed By Kanundrum Capital Own USD
Accounts Managed By Kanundrum Capital Are Short The Euro
Accounts Managed By Kanundrum Capital Are Short The Yen

For Peter Boockvar
Peter Boockvar is long EWJ
Peter Boockvar is long crude
Peter Boockvar is long gold and (GLD)
Peter Boockvar is long (SLV)
Peter Boockvar is long (DBA)

For Carter Worth
No disclosures.

For Andy Busch
Busch has no disclosures.

For Ben Schachter SOT
Schachter has no disclosures.

For Scott Nations
Nations does not own (DE), but a member of his family does (mother).

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