We stand by our technical and fundamental thesis. We will not be covering unless we see two consecutive days of HO/HDL/HC.
I'm fine to be called a basher on $NFLX. Of course our value based long/short portfolio is only ~30 short at the moment. Not all of our longs have been right, but we are happy with our hit rate.
We beleive fundamentally, Witney Tilson was absolutely right on NFLX...but just too early. Tactically, he forgot to wait until a crescendo top to enter, and then held un-hedged shorts over earnings. Tilson is smart...just a higher risk player than we are (buying BP when it was a falling knife...much braver than we are for sure!)