Don’t be fooled into thinking the recent drop is a buying opportunity. NFLX remains significantly overvalued.

December E-mini S&Ps (ESZ14 -0.75%) this morning are down -0.20% and European stocks are down -0.87% on global economic concerns.

Today the U.S. Supreme Court ruled that TV start-up Aereo violates copyright law by using tiny antennas to provide subscribers with broadcast network content via the Internet and this news was basically a big win for those in the network industry