AMZN, close to 30% in Day? When Down?

Hi,

Did you see amazon bucking the trend today, and making close to 30% return today?

I think it would come back down. Who is long or short and why?

 

I feel sorry for all the shorts on that one, either yesterday or today. I can just see some people saying, up 10%, has to correct lower. Up 15%, has to correct lower. Up 20%, has to correct lower. lol

 

LOL!

I wanted to short it at 120, but it did not get there.

 

Bezos The Short Killer

 

I don't know if window dressing...

(for those that never heard the term)
http://www.investopedia.com/terms/w/windowdressing.asp

...has anything to do with it. Possibly worldwide fund managers scrambling to get in so they can say "hey we own that". I don't know, just makes me feel really uneasy seeing AMZN and MSFT moving the way they are moving.

 

Very good point! Also it is all time high, so no losers so far on long side. I still think it will come back down soon.

In the after hours session of yesterday it traded at 107. I am surprised it opened higher.

 

I think buyers overbought the stock, I think it will come down some, but I wouldn't short it.

 

I say it has an excellent chance of dropping to 105ish, unless additional over the top market news comes out :eek:

 

That is window dressing, just not at the end of the quarter.

 

Amazon will fall swiftly a 69.5 P/E ratio is totally over the top. Market conditions are not right for a stock to climb that high. Considering it's only been 2 days for bulls to push that stock up. I bet you it will take 1 day for bears to tear that stock down.
I'd be very cautious even Apple doesn't have that outrageous of an P/E ratio (32.4) and it's the Tech Sector's favorite growth stock.

BE CAUTIOUS

Here's my overall summary Don't BUY