NFLX was wobbly yesterday morning. I thought it would probably crater at the time. It didn't. Then a sell-off at the close, which is usually predictive.
The way Wall Street is greeting earnings announcements generally and given Netflix's scary history a tamp down to $90 looks like a good wager - consolidation after a huge run, risk aversion ahead of earnings, not much covering because remaining shorts have no reason to budge.