Ntes will not go down without some fear. The longs have gotten so confident that they see no reason to sell and every pull back is a buying opportunity.
It was the same way in '99-'00. I owned stocks that sold off 10-15 dollars on one day and were up 20 the next two. Then there came the day when we had two days in a row of down 8-12. On the third day I saw some stuff off 30-40 points. Now that was fear taking hold. That time will come to this stock but who knows what will be the catalyst.
If you are looking to go short, wait for some fear.