Netflix forward PE of 87 is a joke at these levels.

In a prior post on the coming fate of NFLX, I provided this chart model.  Today's chart has shown that model to be accurate at least so far, and at least in the expectation that the e wave would break out of the top of the ending diagonal into a throw over that would then come back down into the channel:



Netflix is a pure momentum play.  That means everyone is margined up to the hilt in order to take advantage of the momentum.  When the herd exits this thing the crash is likely to be dramatic.  It could begin to breakdown next week if the red lines in the above model play out.