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Strategies & Market Trends : Roger's 1998 Short Picks
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To: put2rich who wrote (10802)7/1/1998 4:48:00 PM
From: Roger A. Babb  Read Replies (3) of 18691
 
thanh, I am shorting AMZN at about 5 point increments as it goes up. Have part of position boxed. When AMZN corrects, it will be sudden and severe with no chance for new shorts, probably drop 50% or more overnight. There is no way that company performance will ever justify the current market price, it is just a "trading vehicle" with price now based on supply demand, no relation to real company underneath. At some point everyone will rush for the exit at once and it will be very ugly, probably be halted for a few days. But how high will it go first? 120? 150? 200? 300? Anything is possible and no one can predict it with certainty.
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