Excellent post on $NFLX that gives me much to think about. I agree with much of what you said but I think there are some emotional factors that you left out which should not be negated.

1. I think on average, Netflix customers are fiercely loyal compared to other companies.

2. Netflix has a great product which they keep improving upon. Netflix is actually more reliable than my cable provider.

3. Netflix has the first movers advantage. Even $AMZN hasn't made much of a dent and they are giving away their video on demand service free to their millions of prime customers. I get Amazon instant video free, yet I still prefer Netflix.

I respect the charts but on $SPY I saw the T-30 pattern clear as day. $AAPL $FB & $NFLX especially followed.

$NFLX, $FEYE, $AMBA, $TSLA,

$YOKU...fav for summer run???