About 3 months ago AMZN was around $30 and after their earnings it jumped to $45 and it has been steadily up since then to $87. Nothing justified its high P/E for me and I have a small short position that I am losing money on it. One of my friends who works in a big brokerage house and was invited to APPL meeting on Sept 5, told me that many big investors and hedge funds are having a close eye on AMZN to short. he said that it will happen soon. I feel a big drop on AMZN stock is long overdue. I got a good tip on AAPL from my friend and shorted at 144 and now I am making a good money. I hope he is also right on AMZN. He was also talking about a short squeeze on CC. Any thoughts?
Buy AMZN puts rather than shorting. I was wrong trying to short a few months ago. Gut says it is way overvalued. I can't see this going to $90 or higher but I said that at $60. Shorts got ass raped last earnings call causing a bigger spike. Like to see it tank. I have those 1999-2000 bloated feelings on AMZN again.
planes don't have that much fuel to run for so many hours ... looks like this plane needs to land, ay???
As tempting as it looks, if the QQQs decides to make a major run to the upside (and techs appear to be leading the rallies lately), expect amzn to lead the way by catapulting through that potential double top resistance. This stock is overvalued to the moon on fundamentals, however, short fuel is like adding gunpowder to the upside fuse. All they need is some kind of positively spun pre or post earnings upgrade to gap up again (depending on what side the analysts have taken, spinning in their direction is not too inconceivable). And in the mean time, they can just keep the stock flat for the next several weeks to maximize short fuel. Could also implode downwards if market tanks. Point is, why not pick an already relatively weak stock to short, if you are anticipating markets will drop further?