Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Netflix
So what: Momentum traders piling on and continued speculation about who's going to end up buying Hulu is putting pressure on shares today. The only real "significant" news is that Justin Bieber's movie, Never Say Never, will be available for streaming in Canada tomorrow.
Now what: I really hope that Justin Bieber doesn't have the kind of impact on the stock market to cause this move, so I'll point more to continued downward pressure on the stock. Shares have been beaten up for quite a while now, and even though I haven't been high on the stock in the past, the price is starting to turn my view. Shares now trade at just 17 times forward estimates, and rumors are swirling that Amazon.com
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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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