Your dismissive statement 'nothing in news at all' is factually wrong. There is the Disney deal. Hulu has gotten wobbly. The Verizon-Coinstar threat has been reported as weaker. Two major houses have upgraded NFLX.
Your Icahn assumption is baseless as well. There is no evidence Icahn is bailing for short-term gain or plans to.
Short covering has been one factor pushing the stock. The numbers show that. Whether it's over is unclear. I also expect NFLX to retreat or consolidate. But I expected it before (at about $85) and I was wrong.
The only solid play now is an option strategy assuming volatility.