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Web Extra: Burned By Netflix

Moving to the sidelines in Netflix may have looked like a smooth move at the time, but as it turns out, Brian Kelly fumbled this play.

BK made the fateful call on December 17th as a bet that valuations were stretched after the stock had climbed more than 200% in calendar year 2010.

”This is a no touch for me,” he said at the time. “Stay away; there are better places to be.”

As they say, no guts no glory. Since he said to move to the sidelines shares of Netflix have gained another 18%.

So what does Kelly think of Netflix now? Find out in this web extra. Watch the video now!





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Trader disclosure: On Jan. 31, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Adami Owns (AGU); Adami Owns (C); Adami Owns (GS); Adami Owns (INTC); Adami Owns (MSFT); Adami Owns (NUE); Adami Owns (BTU); Adami's wife works for (MRK); Cortes owns (PM); Cortes owns (MO); Cortes owns (EXC); Cortes owns (MS); Cortes owns (GS); Cortes is long U.S. Treasuries; Cortes owns (TSN); Cortes is short (LVS); Cortes is short (BAC); Terranova Owns (VRTS); Terranova Owns (C); Terranova Owns (UPL); Terranova Owns (GM); Terranova Owns (PEP); Terranova Owns (MS); Terranova Owns (POT); Terranova Owns (LTD); Terranova Owns (SU); Terranova Owns (CVI); Terranova Owns (CVE); Terranova Owns (CPX); Terranova Owns (CNQ)

Comcast is the parent company of CNBC
Comcast is the parent company of NBCUniversal
GE owns 49% of NBCUniversal
GE owns 49% of CNBC

BRIAN KELLY
Accounts Managed by Kanundrum Capital Own (BAC)
Accounts Managed by Kanundrum Capital Own The Yen
Accounts Managed by Kanundrum Capital Own (TLT)
Accounts Managed by Kanundrum Capital Own (SDS)
Accounts Managed by Kanundrum Capital Own (MON)
Accounts Managed by Kanundrum Capital Own (DBA)
Accounts Managed by Kanundrum Capital Own (JJG)
Accounts Managed by Kanundrum Capital Own (DO)
Accounts Managed by Kanundrum Capital Own (RDC)
Accounts Managed by Kanundrum Capital Own (ATW)
Accounts Managed by Kanundrum Capital Are Short Australian Dollar

JOE TERRANOVA
Terranova is Chief Market Strategist of Virtus Investment Partners, LTD
Virtus Investment Partners Owns More Than 1% Of (ABAX)
Virtus Investment Partners Owns More Than 1% Of (AMKR)
Virtus Investment Partners Owns More Than 1% Of (CCG)
Virtus Investment Partners Owns More Than 1% Of (CASS)
Virtus Investment Partners Owns More Than 1% Of (CSVI)
Virtus Investment Partners Owns More Than 1% Of (EXR)
Virtus Investment Partners Owns More Than 1% Of (FCFS)
Virtus Investment Partners Owns More Than 1% Of (IGE)
Virtus Investment Partners Owns More Than 1% Of (KRC)
Virtus Investment Partners Owns More Than 1% Of (LDR)
Virtus Investment Partners Owns More Than 1% Of (LPHI)
Virtus Investment Partners Owns More Than 1% Of (NCRI)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (XLB)
Virtus Investment Partners Owns More Than 1% Of (XLV)
Virtus Investment Partners Owns More Than 1% Of (XLP)
Virtus Investment Partners Owns More Than 1% Of (XLY)
Virtus Investment Partners Owns More Than 1% Of (XLE)
Virtus Investment Partners Owns More Than 1% Of (XLI)
Virtus Investment Partners Owns More Than 1% Of (XLK)
Virtus Investment Partners Owns More Than 1% Of (XLU)
Virtus Investment Partners Owns More Than 1% Of (SUBK)
Virtus Investment Partners Owns More Than 1% Of (WDFC)
Virtus Investment Partners Owns More Than 1% Of (YDNT)
Virtus Investment Partners Owns More Than 1% Of (CLB)

ZACHARY KARABELL
River Twice Capital is short (HAL)
Karabell Owns (RIMM)

DENNIS GARTMAN
Funds managed by Dennis Gartman are long Gold
Funds managed by Dennis Gartman are short Yen
Funds managed by Dennis Gartman are short Euro
Funds managed by Dennis Gartman are short Sterling
Funds managed by Dennis Gartman are long Corn
Funds managed by Dennis Gartman are long Nat Gas
Funds managed by Dennis Gartman are long Swiss Franc
Funds managed by Dennis Gartman are long Canadian Dollars
Funds managed by Dennis Gartman are long Australian Dollars
Funds managed by Dennis Gartman are long Wheat
Funds managed by Dennis Gartman are long Crude
Funds managed by Dennis Gartman are long Soybeans

CRAIG BERGER HALFTIME PLAY OF THE DAY
FBRCM is a market maker or liquidity provider for (BRCM)

FAST 360
DAVID CAMPBELL, SCOTT NATIONS, CARTER WORTH
Campbell has no disclosures
Worth has no disclosures
Nations has no disclosures

DAVID RIEDEL
Riedel has no disclosures

REBECCA PATTERSON
Patterson has no disclosures

PETE NAJARIAN
Pete Najarian owns (CNI)

MIKE KHOUW
Cantor Fitzgerald & Co is a market maker in (PCX)

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