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Web Extra: Has Netflix Found a Bottom?

In the tech space, the traders were keeping a close eye on Netflix after the firm inked a licensing deal with with DreamWorks.

The multiyear deal announced Monday will give Netflix's streaming service the exclusive rights to show the latest content from DreamWorks, the studio behind a list of popular franchises that includes "Shrek," ''Kung Fu Panda" and "Madagascar." It comes after weeks of disruptive changes that irked Netflix's 24.6 million U.S. customers and spooked its shareholders.

Does the deal signal a bottom? How should you trade it?

Pete Najarian is watching $130 as a key level. "The stock seems to have found support around $130 and I’m getting intrigued," he says.

Steve Grasso, however, can't get excited. "I’m wary of a stock with this whippy type action. I wouldn’t dabble unless its for a quick bounce."

Hear from Guy Adami and the other traders. Watch the video now!





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Trader disclosure: On Sep 26, 2011, 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); Seymour owns (BAC); Adami Owns (AGU); Adami Owns (C); Adami Owns (GS); Adami Owns (INTC); Adami Owns (MSFT); Adami Owns (NUE); Adami Owns (BTU); Terranova is long VRTS; Terranova is long OXY; Terranova is long HOS; Terranova is long OIH; Terranova is long CVI; Terranova is long AXP; Terranova is long EMC; Terranova is long WFM; Terranova is long AMZN; Terranova is long WFC; Terranova is long AAPL; Terranova is long IBM; Terranova is long Silver puts; Finerman and Finerman’s firm own AAPL short calls; Finerman owns (BAC) and Finerman’s firm own (BAC) leaps ; Finerman owns GOOG; Finerman’s firm owns IBM; Finerman’s firm owns JPM leaps; Finerman’s firm owns M; Finerman and Finerman’s firm own MSFT; Finerman and Finerman’s firm own ORCL; Finerman owns IWM; Finerman owns MDY; Finerman owns SPY

For Joe Terranova
Terranova is Chief Market Strategist of Virtus Investment Partners, LTD
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 Building Materials Holdings
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 (KRC)
Virtus Investment Partners Owns More Than 1% Of (LHO)
Virtus Investment Partners Owns More Than 1% Of (NRCI)
Virtus Investment Partners Owns More Than 1% Of Sun Pharmaceutical Industries Ltd
Virtus Investment Partners Owns More Than 1% Of (RLI)
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 (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 (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 Domino's Pizza UK & IRL PLC

For Whitney Tilson
Tilson owns (BRK.B)

For Brian Kelly
** No disclosures

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