SB, CS and all other fellow Amzn pessimist's. I copied this from the last issue of Business Week.
<Business Week: June 15, 1998
Cover Story: Midyear Investment Outlook
SHORT-SELLING: HOW TO SHORT A BULL MARKET--AND LIVE
Despite frequent squeezes, savvy players are profiting from overvalued stocks
With the stock market up 13% so far this year, short-selling ought to be one of the riskiest investment strategies around. And guess what? It is. Shorts complain that rampant bullishness is pushing up dubious stocks more than ever. They beef that some institutions make a point of buying heavily shorted stocks to force shorts to buy back the shares, driving prices up further. Such ''short squeezes'' are becoming a fact of life for short-sellers.>
As I reported earlier today , we are in a short squeeze.
I choose at this time not to reveal how I can track the real players, but I Can tell you this, we are being set up by the institutions, because of Amzn's small float. Today Merril Lynch was the single largest buyer of Amzn, 180,000shares, also active to no surprise was RS. Montgomery Securities was there, while Alex Brown was the only significant seller.
I can't get a handle on where Jeff Vinik sits, because he goes through 3rd party's, so he doesn't have to report the 5% accumalation to the SEC.
All the short squeeze institutions have to do is, buy large blocks sells (especially in a thinly traded stock) coming in like they did today from Alex Brown, and move them to their inventory, remember that stocks go up if it appears that the demand is greater than the supply.
Now Cs, my heart goes out to you, but don't take it personal, us little guys can't compete with the institutions.
My advice, for what its worth is just timing?
I would only jump back in to this manipulated on-line bookseller, when you see that their sales have peaked. As I've mentioned before, Wall Street is rewarding only for revenue growth and profitability guessimates, currently means shit! How long will that last?? I don't have a clue, but SB, it might stay until after your puts have expired.
All the best and God Bless America. |
