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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 February 25th as a bet that a new service from Amazon presented serious headwinds for this high flier.

“We’re finally getting competition in the space,” he said at the time. “Netflix is a name I would stay away from and I might at some point look to short it.”

Unfortunately, the right trade was buy high and sell higher. If you got out as BK counseled you missed another 10% of gains.

So what does he have to say about this stock now? Find out in this web extra. Watch the video now!



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Trader disclosure: On April 8, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Terranova owns (C); Terranova owns (JPM); Terranova owns (VRTS); Terranova owns (UPL); Terranova owns (PBR); Terranova owns (TCK); Terranova owns (BAX); Terranova owns (XOM); Terranova owns (AKAM); Terranova owns (CNQ); Terranova is short (POT); Terranova owns (NFLX); Terranova owns (CAT); Terranova owns (F); Terranova owns (VLO); Finerman and Finerman's firm own (AAPL); Finerman owns (C); Finerman and Finerman's firm own (CVS); Finerman and Finerman's firm own (HPQ); Finerman's firm owns (JPM), is long (JPM) leaps; Finerman owns (JPM); Finerman and Finerman's firm own (MSFT); Finerman's firm is short (IWM); Finerman's firm is short (MDY; Finerman's firm is short (SPY); Finerman's firm is long S&P puts; Finerman's firm is long Russell 2000 puts; Pete Najarian owns (C); Pete Najarian owns (C); Pete Najarian is long (F) bonds; Pete Najarian owns (JPM); Pete Najarian is long (RSX); Pete Najarian is long (XLF) calls; Jon Najarian owns (AMSC), is short (AMSC) calls; Jon Najarian owns (CBOE), is short (CBOE) calls; Jon Najarian owns (CME), is short (NYX) calls; Jon Najarian owns (NYX), is short (NYX) calls; Jon Najarian owns (BBBY), is short (BBBY) calls; Jon Najarian owns (BRCM), is short (BRCM) calls; Jon Najarian owns (GDX), is short (GDX) calls; Jon Najarian owns (SLV), is short (SLV) calls; Jon Najarian owns (LLY), is short (LLY) calls; Jon Najarian owns (EMC), is short (EMC) calls

For 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 (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 (XLF)
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 (WDFC)
Virtus Investment Partners Owns More Than 1% Of (YDNT)
Virtus Investment Partners Owns More Than 1% Of DOMINO'S PIZZA UK & IRL PLC

For Brian Kelly
Accounts Managed by Kanundrum Capital are long (GLD)
Accounts Managed by Kanundrum Capital are long (MON)
Accounts Managed by Kanundrum Capital are long (SLV)
Accounts Managed by Kanundrum Capital are short (XLF)
Accounts Managed by Kanundrum Capital are long VIX calls
Accounts Managed by Kanundrum Capital are short yen
Accounts Managed by Kanundrum Capital are short copper
Accounts Managed by Kanundrum Capital are long gold
Accounts Managed by Kanundrum Capital are long silver
Accounts Managed by Kanundrum Capital are long crude oil
Accounts Managed by Kanundrum Capital are long natural gas

For Scott Nations
**No Disclosures

For David Greenberg
Greenberg Is President Of Sterling Commodities, A Clearinghouse For Metals & Commodities At NYMEX
Greenberg Is A Former NYMEX Executive Committee and Board Member

SOT 2/25/11: Brian Kelly Netflix
**No Disclosure

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